And if the deal is such that an American publisher is to pay the foreign licensor, the contract should also provide that payment be made in United States dollars and that the cost of conversion is borne by the foreign publisher. The path we choose depends in part upon how well we are prepared for the change that is often at the heart of what we deem a crisis. To the extent that you, as an American publisher, are prepared for these coming changes and your foreign publishing contracts reflect that preparedness, you may be in a good position. To the extent, however, that you, as an American publisher, have tried to cut corners and use some sort of boilerplate, pre-printed, fill in the blanks foreign publishing contract form, you may now be facing the expensive task of paying for your attempt to save money in the first instance. Value is almost always more important than cost.
Cost sees only the danger in short term expenditures.
Value sees the long term opportunities of proper preparedness. It is the wise publisher that understands the differences. This article is not intended as a substitute for legal advice. The specific facts that apply to your matter may make the outcome different than would be anticipated by you. You should consult with an attorney familiar with the issues and the laws.