Forward

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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 ?
So soon as the second man had appeared, Montgomery had started forward. "Steady on there!" he cried, in a tone of remonstrance.
I saw the latter take a step forward, and interposed.
Lurching suddenly forward and dropping to his knees, he fired an angry shot at the persistent woods.
The command went painfully forward until an open space interposed between them and the lurid lines.
Suddenly the lioness gave vent to another little whine, at which Tarzan's lion voiced a terrific roar and leaped forward straight toward the beast of the black mane.
Cautiously the two beasts moved forward toward the listening post of the Germans.
The natural and customary thing to do is to send forward a line of skirmishers.
In the meantime, his two men, as was the wont of visiting sailors, had gone forward into the forecastle to do some visiting themselves.
With a generous impulse he caught up the child in his arms, rushed forward, regardless of Indian shaft or rifle, and placed it in safety upon her bosom.
Prince Andrew stepped forward from among the suite and said in French:
He reefed all sail, the pole-masts were dispensed with; all hands went forward to the bows.
The captain shouted to the steersman on the forward log: