§ 2-3. Currency for payment and currency conversion
Machine-translated from Norwegian. The Norwegian text is the one that applies. Read the original in Norwegian.Norsk English العربية Polski Українська
The text of the law (unofficial translation)
§ 2-3. Currency
(1) Payments shall be made in the currency that has been agreed.
(2) A payee (betalingsmottaker) or another party who, at the point of sale, offers the payer (betaler) a currency conversion before a payment transaction (betalingstransaksjon) is initiated shall inform the payer of fees and of the exchange rate that will be used for the conversion. The payer shall consent to the conversion on this basis.
What does this mean?
The section says that money must be paid in the currency the parties have agreed on. Example: If the agreement says euros, the recipient cannot demand settlement in another currency.
If a shop or another recipient offers to convert the amount into your currency before you pay, you must be told about the fees and the exchange rate that will be used. You must agree to the conversion on that basis. The rule is found in Chapter 2 on payment settlement, together with § 2-4 on fees for means of payment.
Questions about this section