FX FORWARD TRANSACTION

A forward FX contract is a deal to exchange currencies - to buy or sell a particular currency on an agreed future date at a specified rate.

Features:
o Customer type : companies legally demands of foreign currencies
o Tenor: 3 – 365 days
o Currencies: USD, EUR, GBP, CAD, AUD, SGD, CHF, JPY and others
o Margin deposit is requirable to guarantee that the forward transaction must be done at maturity.

Document requirements:
o Documents proving the purpose of using foreign currencies legally
o Document that the company pledges to use foreign currencies legally