AIDAR 752.7010 Conversion of U.S. Dollars to Local Currency (APR 1984) and the Standard Provision for U.S. NGOs (November 1985) require contractors, grantees and their employees to follow the USAID mission’s procedures for conversion of U.S. dollars to local currency. This requirement is also addressed in the mission bilateral agreement with specific procedures provide herein as a product. Access to the procedures early in field set-up process can streamline the overall implementation, avoiding any unallowable costs.
Content and Objective
- What are the USAID mission U.S. dollar to local currency procedures?
- What are the requirements for to maintain a local bank account?
- What are the requirements to purchase services, goods and supplies in local currency?
- What transfer and conversion fees are allowable costs?
- What are the authorized financial institutions to convert U.S. dollars to local currency?
- What is the role of the U.S. mission in the conversion of U.S. dollars?
This product is very useful for an organization that plans to implement a U.S. foreign assistance program funded by USAID and is required to transfer US dollars, establish a local bank account and make transactions in local currency.
Purchase can be made by credit card, bank wire or with a pay pal account. After payment a link will be provided for a one time download of the product. The product is distributed by Development Essentials to the organization and is not for resale or redistribution outside the organization.
Who Should Purchase the Product
Any organization (contractor or US grantee) implementing a U.S. foreign assistance program funded by USAID that anticipates transactions in local currency. This procedure shall be followed by a contractor, recipient and its employees to convert U.S. dollars to local currency. Local currency may be needed to establish a field office, hire staff and procure goods, services, equipment and supplies.
After the Purchase
Organizations with the USAID mission’s U.S. dollar to local currency conversion procedure will be able to quickly implement a program to include establish a field office, hire staff and procure goods, services, equipment and supplies.
Terms and Conditions
The Development Essentials’ on-line store offers products for sale to organizations engaged in U.S. foreign assistance implementation with the goal to streamline the proposal and application submission process. When appropriately applied the products can enhance all phases of the bidding process: research, planning, drafting and submission. Products offered may take the form of downloadable documents or mailed software and manuals and are distributed solely by Development Essentials to the buyer and its organization. Some products copy right may apply and are marked accordingly. By purchasing the product, the organization agrees not to copy, print, e-mail or fax the product with the intention to redistribute or resell the product to another organization or individuals not the buyer under penalty of law. Electronic download is limited to one time only. For any questions regarding the products or terms and conditions contact firstname.lastname@example.org.