Template:M summ GMRA 6(a)

Paragraph 6(a)

Nothing really to see here: payments must be unencumbered, and in these days of real-time electronic settlement, Clearing Systems and the like, it is quite hard not to transfer things unencumbered: it is a basic condition of eligibility to clearing systems for securities, and currencies, by definition, are unencumbered (there is an essay on this subject on our cash page), and while they may not freely transferable, that will be a function of central bank regulations for the currency in question, or international sanctions and so on, and not really within the gift of the transferor to do much about.