Skip to main content

Social Media

  • Twitter
  • Linkedin
  • Facebook
  • Instagram
  • English
  • Français

Login/Register

  • Login
  • Register
  • License Information
    • CRKN Licensing Principles
    • Model License
    • The Banding System
    • Stakeholder Alignment Group
    • License Negotiations
    • Negotiation Outcomes
      • Open Access Publishing
      • Invoicing Schedule
    • Directories
    • Assessment Guidelines for Open Access Publishers
  • Heritage Content
    • Canadiana Collections
      • What’s New in the Collections
      • Navigating the Collections
      • Canadiana Citation Guide
      • Canadiana Infrastructure Updates
      • Canadiana Collections Metadata
      • Usage Reports
      • Rights Statement Project
      • History of Canadiana
    • Digitization
      • Digitization Services
      • Digitization Projects
      • Clark Wilson LLP Memo on the Acquisition and Use of Commercial Microfilm
    • Preservation and Access
      • Trustworthy Digital Repository
    • Digital Heritage Content and Preservation Listserv
    • Canadian National Digital Heritage Index
  • Tools and Services
    • CRKN Open Access Journals List
    • Foreign Exchange Service
    • Publication Data Report
    • Unsub
    • Journal Value Analytics
    • The Big Deal Toolkit
    • Institutional Mobilization Toolkit
    • Perpetual Access Rights Reports (Serials)
  • Projects and Collaborations
    • Journal Usage Project
    • Érudit Partnership & Coalition Publica
    • SCOAP³
    • NISO Membership
    • COUNTER
    • FMD
    • CC-PLUS
    • DataCite Canada Consortium
      • DataCite Canada Consortium - Member FAQ
    • ORCID Canada
      • About ORCID-CA
      • Benefits of ORCID-CA Membership
      • Join ORCID-CA
      • Persistent Identifier (PID) Governance
      • ORCID-CA FAQ
  • Publishers
  • News and Events
    • News
    • Events
    • CRKN Conference
      • 2022 CRKN Conference
      • 2021 CRKN Virtual Conference
      • 2020 CRKN Virtual Conference
      • 2019 CRKN Conference
      • Code of Conduct
  • About CRKN
    • Board of Directors
    • Members
      • Associate Membership
    • Strategic Plan
      • Strategic Plan 2019-2024
    • Committees
      • Executive Committee
      • Finance and Audit Committee
      • Content Strategy Committee
      • Knowledge Base Entitlements Sub-Committee
      • Preservation and Access Committee
        • Canadiana Content Sub-Committee
        • Platform Technical Sub-Committee
      • Conference Planning Committee
      • Task Groups
      • CRKN Researcher Council
    • Annual Report
    • Staff
    • Careers
    • History of CRKN
    • Ron MacDonald Service Award

Main navigation

  • License Information
  • Heritage Content
  • Tools and Services
  • Projects and Collaborations
  • Publishers
  • News and Events
  • About CRKN
Menu
Home

Foreign Exchange Service

Overview

The Foreign Exchange (FX) Service provides CRKN members with additional certainty for the administration of their collections budgets. Through the FX Service, CRKN offers two options, bidding and USD billing, on selected license products to help members minimize the impact of foreign exchange fluctuation.

Members participating in the FX Service are eligible to bid their preferred rates, choose spot rates, or select direct USD billing. CRKN will levy an additional administration fee for participation in the FX Service.

Background

CRKN negotiates the bulk of its content licenses on multi-year agreements denominated in US dollars (USD) but typically invoices its members in Canadian dollars (CAD). To facilitate the billing of its members, CRKN employs forward contracts to invoice members. Forward contracts are commitments to purchase known quantities of USD at a known price and date in the future. While this is administratively simple for CRKN, it exposes the membership to some foreign exchange risk and pricing uncertainty.

In 2012, CRKN introduced the Foreign Exchange Service to provide greater control and predictability for member budgets. With this Service, members can direct CRKN to purchase USD on their behalf by allowing them to lock in an exchange rate three to six months sooner, or to leave a bid in the market for up to six months for a rate better than is currently available in the market.  Participating institutions sign a commitment form to confirm participation and provide instructions for all, or a portion, of their estimated license amounts through the FX Service. CRKN charges a small administrative fee to cover the process. While the Service helps to ensure cost predictability, it does not guarantee better pricing for members. 

Since 2015-2016, CRKN has also offered members the option to be invoiced and pay in USD directly, also for a small administrative fee. CRKN recognizes that members have varying constraints and challenges in their ability and preference for USD billing.

CRKN bills the majority of its license amounts in October, November, and December. In general, this is also the time that CRKN would finalize billings in CAD and USD, including booking forward contracts to finalize any un-met foreign exchange requirements.

Keywords

Finances
Foreign exchange
Tools and services

Tools Menu

  • CRKN Open Access Journals List
  • Foreign Exchange Service
  • Publication Data Report
  • Unsub
  • Journal Value Analytics
  • The Big Deal Toolkit
  • Institutional Mobilization Toolkit
  • Perpetual Access Rights Reports (Serials)
Footer Logo

Canadian Research Knowledge Network

1309 Carling Ave PO Box 35155 Westgate Ottawa, ON K1Z 1A2 t. 613.907.7040

Policy Menu

  • Privacy Policy
  • Accessibility Policy
  • Sitemap
© 2013 - 2023 Canadian Research Knowledge Network

Footer menu

  • Contact Us
  • Newsletter Sign Up

Partner Menu

  • Canadiana
  • CNDHI
  • License Information
    • CRKN Licensing Principles
    • Model License
    • The Banding System
    • Stakeholder Alignment Group
    • License Negotiations
    • Negotiation Outcomes
      • Open Access Publishing
      • Invoicing Schedule
    • Directories
    • Assessment Guidelines for Open Access Publishers
  • Heritage Content
    • Canadiana Collections
      • What’s New in the Collections
      • Navigating the Collections
      • Canadiana Citation Guide
      • Canadiana Infrastructure Updates
      • Canadiana Collections Metadata
      • Usage Reports
      • Rights Statement Project
      • History of Canadiana
    • Digitization
      • Digitization Services
      • Digitization Projects
      • Clark Wilson LLP Memo on the Acquisition and Use of Commercial Microfilm
    • Preservation and Access
      • Trustworthy Digital Repository
    • Digital Heritage Content and Preservation Listserv
    • Canadian National Digital Heritage Index
  • Tools and Services
    • CRKN Open Access Journals List
    • Foreign Exchange Service
    • Publication Data Report
    • Unsub
    • Journal Value Analytics
    • The Big Deal Toolkit
    • Institutional Mobilization Toolkit
    • Perpetual Access Rights Reports (Serials)
  • Projects and Collaborations
    • Journal Usage Project
    • Érudit Partnership & Coalition Publica
    • SCOAP³
    • NISO Membership
    • COUNTER
    • FMD
    • CC-PLUS
    • DataCite Canada Consortium
      • DataCite Canada Consortium - Member FAQ
    • ORCID Canada
      • About ORCID-CA
      • Benefits of ORCID-CA Membership
      • Join ORCID-CA
      • Persistent Identifier (PID) Governance
      • ORCID-CA FAQ
  • Publishers
  • News and Events
    • News
    • Events
    • CRKN Conference
      • 2022 CRKN Conference
      • 2021 CRKN Virtual Conference
      • 2020 CRKN Virtual Conference
      • 2019 CRKN Conference
      • Code of Conduct
  • About CRKN
    • Board of Directors
    • Members
      • Associate Membership
    • Strategic Plan
      • Strategic Plan 2019-2024
    • Committees
      • Executive Committee
      • Finance and Audit Committee
      • Content Strategy Committee
      • Knowledge Base Entitlements Sub-Committee
      • Preservation and Access Committee
        • Canadiana Content Sub-Committee
        • Platform Technical Sub-Committee
      • Conference Planning Committee
      • Task Groups
      • CRKN Researcher Council
    • Annual Report
    • Staff
    • Careers
    • History of CRKN
    • Ron MacDonald Service Award