English version

forward contract

From Longman Business Dictionaryforward contractˌforward ˈcontract [countable]FINANCE a private arrangement between two organizations for buying a particular amount of something for a fixed price on a fixed date in the future. This type of contract is not traded on any financial marketA forward contract between the exporter and his bank will fix the rate at which payment in foreign currency will be converted when it is received in the UK. contract
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