Forward Contract is a binding obligation to buy or sell a specific amount of foreign currency at a predetermined exchange rate on an agreed date in future. Forward Contracts give protection to future currency volatilities and fluctuations.

Benefits of Forward Contracts

• Liquid market up to 1 year
• No additional cost involved
• Available in any major currency
• Ability to use as a budget rate for the transaction

Eligibility

• Any customer who is holding a proper underlying transaction can apply for Forward Contracts.

How to apply for a Forward Contract

• Please contact main branch for details on applying for this service

Documents Required

• A confirmation of the transaction has to be signed by both parties.
• Need to establish a credit limit before entering in to a forward transaction

Forward contracts obliged to do the transaction at the agreed rate, irrespective of the fact that the prevailing market exchange rate is advantageous or disadvantageous for the client