Trade Finance

Forward Contracts Module

Objective

A forward contract is an agreement between two counterparties - a buyer and seller. The buyer agrees to buy an underlying asset from the seller. The delivery of the asset occurs at a later time, but the price is determined at the time of purchase.

Advantages of Forward Contracts

Allows the business to lock in an exchange rate for a trade that will occur at a future pre-agreed rate.
Choose a rate which suits the business that will allow you to buy and sell in the future at a known rate.
Manage and budget cash flow without worrying about FX volatility. Forward exchange contracts can be used as hedging mechanisms for a business.

Features

1. Customer Master
2. Forward Contract Booking Data
3. Confirmation of Forward Contract Booking
4. Forward Contract Cancellation
5. Forward Contract Booking Advice
6. Forward Contract Booking Voucher
7. Customer-wise Forward Contract Register
8. Reports for Contracts Matured for the period
9. Outstanding Forward Contracts Report
10. Audit Trail

Thanks for reading!

One thought on “Forward Contracts Module

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