Gold Clause Contracts

While the general government has expressly withdrawn its consent to obligations requiring tender of a particular type of dollar (31 U.S.C. § 5118(b)), since October 27, 1977, contracting parties within the United States have been legally authorized to require that contractual obligations between them be paid in “a particular United States coin or currency”, including specie legal tender. 31 U.S.C. § 5118(c)(2).

The UPMA™ Member Agreement contains a gold clause provision which applies to any transactions for the sale of goods and services between members on the UPMA™ exchange.