ORS 24.290
Judgments and awards on foreign-money claims
- times of money conversion
- form of judgment
- post-judgment enforcement
(1)
Except as provided in subsection (3) of this section, a judgment or award on a foreign-money claim must be stated in an amount of the money of the claim.(2)
A judgment or award on a foreign-money claim is payable in that foreign money or, at the option of the debtor, in the amount of United States dollars which will purchase that foreign money on the conversion date at a bank-offered spot rate, except that any payment made through a court pursuant to ORS 18.235 (Motion to satisfy money award) must be made in United States dollars. When a payment is made to the court, the judgment debtor shall simultaneously file with the court an affidavit or certificate executed in good faith by its counsel or a bank officer stating the rate of exchange used and how it was obtained and setting forth the calculation and the amount of the money of the claim that will be satisfied by the payment. Affected court officials incur no liability, after a filing of the affidavit or certificate, for acting as if the judgment were in the amount of United States dollars stated in the affidavit or certificate.(3)
Assessed costs, disbursements and attorney fees must be entered in United States dollars.(4)
Each payment in United States dollars must be accepted and credited on a judgment or award on a foreign-money claim in the amount of the foreign money that could be purchased by the dollars at a bank-offered spot rate of exchange at or near the close of business on the conversion date for that payment.(5)
A judgment or award made in an action or distribution proceeding on both a defense, setoff, recoupment or counterclaim and the adverse party’s claim, must be netted by converting the money of the smaller into the money of the larger, and by subtracting the smaller from the larger, and specify the rates of exchange used.(6)
A judgment or award substantially complies with subsection (1) of this section when it is plainly titled as a judgment, it complies with the requirements of ORS 18.038 (Form of judgment document generally) and it includes all of the following:(a)
The names of the judgment creditor, the judgment creditor’s attorney and the judgment debtor.(b)
The amount of the judgment in the foreign money of the claim, the type of foreign money and the foreign country, as defined in ORS 24.350 (Definitions for ORS 24.350 to 24.400), utilizing the money that the claim is denominated in.(c)
The interest owed to the date of the judgment, either as a specific amount in the foreign money or as accrual information, including the rate or rates of interest as determined by ORS 24.300 (Prejudgment and judgment interest), the balance or balances upon which the interest accrues, the date or dates from which interest at each rate on each balance runs, and whether interest is simple or compounded and, if compounded, at what intervals.(d)
Post-judgment interest accrual information, including the rate or rates of interest as determined by ORS 24.300 (Prejudgment and judgment interest), the balance or balances upon which interest accrues, the date or dates from which interest at each rate on each balance runs, and whether interest is simple or compounded and, if compounded, at what intervals.(e)
For judgments that accrued on a periodic basis, any accrued arrearages, required further payments per period in the foreign money and accrual dates.(f)
A statement that the judgment debtor has the option to pay the judgment or award, including the interest owed on the date of judgment and the post-judgment interest, unless the parties have agreed otherwise as according to ORS 24.270 (Variation of application by agreement), in the amount of United States dollars that will purchase that foreign money on the conversion date at a bank-offered spot rate at or near the close of business on the banking day before the day of payment.(g)
A statement that, if the judgment debtor pays the judgment through a court under ORS 18.235 (Motion to satisfy money award), the payment must be in United States dollars as provided in subsection (2) of this section.(h)
The amount of assessed costs, disbursements and attorney fees in United States dollars, if they are awarded, and any specific amounts awarded. This paragraph does not require inclusion of specific amounts where such will be determined later under ORCP 68 C.(i)
The terms of any agreement made by the parties, before the entry of the judgment, to vary the effect of ORS 24.260 (Definitions for ORS 24.260 to 24.335) to 24.335 (Short title).(7)
If a contract claim is of the type covered by ORS 24.280 (Determining amount of money of certain contract claims) (1) or (2), the judgment or award must be entered for the amount of money stated to measure the obligation to be paid in the money specified for payment or, at the option of the debtor, the number of United States dollars which will purchase the computed amount of the money of payment on the conversion date at a bank-offered spot rate.(8)
When a judgment is given on a foreign-money claim in circuit court, the clerk shall enter the judgment in the register and shall note that the judgment creates a judgment lien. The judgment shall have the same force and effect as any other judgment obtained in the circuit court.(9)
A judgment or award may be discharged by payment.(10)
A party seeking enforcement of a judgment entered as provided in this section shall file with each request or application an affidavit or certificate executed in good faith by its counsel or a bank officer, stating the rate of exchange used and how it was obtained and setting forth the calculation and the amount of United States dollars that would satisfy the judgment on the date of the affidavit or certificate by applying said rate of exchange. Affected court officials incur no liability, after a filing of the affidavit or certificate, for acting as if the judgment were in the amount of United States dollars stated in the affidavit or certificate. The computation contained in the affidavit or certificate shall remain in effect for 60 days following the filing of the affidavit or certificate and may be recomputed before the expiration of 60 days by the filing of additional affidavits or certificates provided that recomputation shall not affect any payment obtained before the filing of the recomputation. [1991 c.202 §8; 1993 c.545 §114; 1995 c.658 §26; 2003 c.576 §181; 2009 c.48 §13]
Source:
Section 24.290 — Judgments and awards on foreign-money claims; times of money conversion; form of judgment; post-judgment enforcement, https://www.oregonlegislature.gov/bills_laws/ors/ors024.html.
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