Forward

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Related to forwards: Currency Forwards

Forward

Forward Contract

An agreement to buy or sell an asset at a certain date at a certain price. That is, Investor A may make a contract with Farmer B in which A agrees to buy a certain number of bushels of B's corn at $15 per bushel. This contract must be honored whether the price of corn goes to $1 or $100 per bushel. Forward contracts can help reduce volatility in certain markets, but they contain the risks inherent to all speculative investing. These contracts may be sold on the secondary market, but the person holding the contract at its end must take delivery of the underlying asset. Forward contracts are identical to futures contracts except that their provisions are not standardized. That is, forwards may be written with any provisions the parties desire. While this allows for greater flexibility, this makes the contracts less liquid on the secondary market and prevents them from being traded on an exchange.
References in classic literature ?
Numa gave a nervous start and attempted to break away; but Tarzan held him and, leaping to his feet, ran forward, dragging Numa after him.
Tarzan pushed Numa forward until his head was almost in the aperture, then as though it were an afterthought, he turned quickly and, taking the machine gun from the parapet, placed it in the bottom of the hole close at hand, after which he turned again to Numa, and with his knife quickly cut the garters that held the bags upon his front paws.
Goading him on the ape-man finally succeeded in getting the lion sufficiently far into the tunnel so that there was no chance of his escaping other than by going forward or deliberately backing into the sharp blade at his rear.
Suddenly he leaped forward and Tarzan knew that he had caught the scent of meat ahead.
Their movements perceptibly quickened under his coaching, and as the boat swung inboard I was sent forward to let go the jibs.
Attending to sheets and tacks now left me little time to see what was taking place, but I happened to be on the poop when Wolf Larsen ordered the two strange sailors forward and into the forecastle.
The boat-puller obeyed, taking a turn around the little forward thwart and paying the line as it jerked taut.
The shapely figure of the fair-haired soldier, with his clear blue eyes, stepped forward from the ranks, went up to the commander in chief, and presented arms.
He reefed all sail, the pole-masts were dispensed with; all hands went forward to the bows.
It was a favourable change, and the Tankadere again bounded forward on this mountainous sea, though the waves crossed each other, and imparted shocks and counter-shocks which would have crushed a craft less solidly built.
A small brass cannon stood on the forward deck of the Tankadere, for making signals in the fogs.
We had groped our slippery way forward, and were now bailing with the frenzy of despair, when we heard the mate's terrified cry, from far aft: