Hypernym

noun

a binding agreement between two or more persons that is enforceable by law

noun

contracts that are traded (and privately negotiated) directly between two parties, without going through an exchange or other intermediary.

forward 3

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EnWordnet [ver.5.0]

English

Definition

a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today, making it a type of derivative instrument.

Examples

1.Forward contracts are very similar to futures contracts, except they are not exchange-traded, or defined on standardized assets.

Synonyms

forward contract 1

Hyponym

forward rate agreement 1

noun

a forward contract, an over-the-counter contract between parties that determines the rate of interest, or the currency exchange rate, to be paid or received on an obligation beginning at a future start date.

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