Supplier changing currency after a deposit?
Pause the next payment and ask for a written reconciliation showing the original price, conversion basis, paid deposit credit and revised balance. Agree whether only the unpaid balance changes currency, and approve the amendment before transferring money. Cambridge China Bridge can help check the supplier's reconciliation.
Establish exactly what the supplier wants to change
Ask whether the supplier wants the unpaid balance paid in another currency or wants to reprice the whole order. Request the reason and compare the proposal with the accepted quotation, purchase order and deposit invoice. Treat a higher underlying price as a separate commercial proposal, even if the supplier describes it as a currency change.
Keep the original documents and request a dated amendment referencing the same order. Ask the supplier to confirm which terms remain unchanged, including specification, quantities, inspection conditions and shipment arrangements. Our quote currency guide covers choosing a currency when placing an order.
Agree a reproducible conversion basis
Record the original and proposed currencies, the rate source, the rate date and time, and how long the offer remains valid. State which way the rate is quoted and whether the calculation multiplies or divides the original amount. Agree rounding, any exchange margin and responsibility for transfer and receiving-bank charges.
Ask for the calculation, not just the new invoice total. Compare the proposed payable amount with an executable quote from your bank or payment provider, including fees. Keep customs conversion separate: HMRC says its published rates can be used for duty and import VAT purposes. See customs and supplier exchange rates.
Protect the credit for your paid deposit
Attach the deposit payment confirmation and ask the supplier to acknowledge the amount and currency credited to the order. If the amount credited differs from the amount sent, reconcile the difference against bank records and the agreed fee allocation. Do not silently absorb a deduction into the currency calculation.
For a balance-only change, subtract the acknowledged deposit from the original order total in the original currency, then convert the unpaid balance. If you agree to restate the whole order, show the converted total and converted deposit credit separately, with an explicit basis for each. Check that the restatement does not charge you again for value already paid.
Check the revised balance as a complete record
Request a reconciliation alongside the revised invoice. It should let your purchasing and finance teams trace the balance without reconstructing the supplier's assumptions.
| Entry | Check before approval |
|---|---|
| Original order | Accepted total, currency and order reference |
| Deposit received | Payment reference, acknowledged credit and any explained fee difference |
| Conversion basis | Scope, source, date, time, direction, margin and rounding |
| Revised balance | Calculation in the payment currency, with agreed charges shown separately |
| Payment instructions | Beneficiary, account, payment reference and quote validity |
Approve the amendment before releasing payment
Have the supplier confirm the reconciliation and amendment in writing, then obtain approval from your authorised buyer and finance approver before payment. Record that receipt of the agreed balance, subject to the agreed bank charges, settles the order price. If the exchange quote expires before payment, request a fresh calculation and approval.
Verify any changed bank details through a contact route you already trust. Currency approval should not replace the goods and document checks in our balance payment guide. If the supplier will not reconcile the deposit or confirm the settlement amount, pause the transfer and request clarification. Cambridge China Bridge's staff in China can help discuss the discrepancy with the supplier.
Frequently asked questions
Should I accept a currency change after paying a deposit?
Assess the written proposal before agreeing. Check whether it converts only the unpaid balance or reprices the order, then compare the total cost including fees.
Which exchange rate should we use for the balance?
Agree the source, date, time, quotation direction, margin and rounding in writing. Compare the result with your payment provider's executable quote.
Should my paid deposit be converted again?
For a balance-only change, keep its acknowledged credit in the original currency and convert the remainder. If restating the whole order, show the deposit conversion separately and agree its basis.
What should I get in writing before paying?
Get the amended currency terms, conversion calculation, acknowledged deposit credit, revised balance, fee allocation and supplier confirmation that the agreed payment settles the order price.