Jurisdiction(s):
United Kingdom

Key definition

Fluctuations definition

What does Fluctuations mean? In construction procurement, fluctuations describes contractual mechanisms that adjust the contract sum to reflect changes in the cost of labour, materials and related inputs between the tender or base date and when the work is actually carried out. It is a descriptive term rather than one defined in legislation, and is widely used across standard forms. Typical features include: identification of a base date; the scope of recoverable cost movements (for example labour rates, materials, fuel, taxes or duties); the method of adjustment (proved cost, agreed indices or formulae); and timing and evidential requirements. Fluctuation provisions allocate inflation and...

Foreign Currency Claims in England and Wales: Case Law, CPR Requirements, Choice of Currency, Conversion Dates, Defences and Practical Considerations

Published by a LexisNexis Dispute Resolution expert

Practice notes

This Practice Note explores bringing proceedings for sums expressed in a foreign currency. It sets out the key case law on whether such claims are permissible and the method for advancing them, and also indicates how a defendant may contest a claim framed in a foreign currency.

For guidance on:

interest in foreign currency claims, see Practice Note—interest on damages claims and judgment debts
costs in a foreign currency, see Practice Note: Cross-border disputes—costs considerations

Why bring a claim in a foreign currency?

Issuing a claim in a foreign currency can be advantageous to claimants, particularly where disputes involve complex international financial arrangements. Nevertheless, there are drawbacks to this approach, especially during periods of significant exchange-rate movement. The decision should therefore be weighed carefully in consultation with the client.

in contractual claims where the contract denominates payments or accounts in a foreign currency
if the claimant’s habitual currency is a foreign currency
if the claimant has incurred loss in a foreign currency

...

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Web page updated on 21/05/2026

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