{"id":42043,"date":"2024-12-27T02:49:25","date_gmt":"2024-12-27T02:49:25","guid":{"rendered":"https:\/\/www.worldfirst.com\/nz\/?p=42043"},"modified":"2024-12-27T02:55:40","modified_gmt":"2024-12-27T02:55:40","slug":"what-is-a-forward-contract","status":"publish","type":"post","link":"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/","title":{"rendered":"What is a forward contract?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42043\" class=\"elementor elementor-42043\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8940429 e-flex e-con-boxed e-con e-parent\" data-id=\"8940429\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-611fd0d elementor-widget elementor-widget-text-editor\" data-id=\"611fd0d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><a class=\"x-crumbs-link\" href=\"https:\/\/www.worldfirst.com\/nz\/\">Home<\/a>\u00a0 &gt;\u00a0\u00a0<a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/\">Grow your Business\u00a0<\/a>\u00a0&gt; \u00a0<a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/\">Business Banking Insights<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f6adf9e e-flex e-con-boxed e-con e-parent\" data-id=\"f6adf9e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-99c8c4e elementor-widget elementor-widget-heading\" data-id=\"99c8c4e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">What is a forward contract?<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69fa6c0 elementor-widget elementor-widget-text-editor\" data-id=\"69fa6c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\">Last updated: 27.12.2024<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a12eb9 elementor-widget elementor-widget-text-editor\" data-id=\"3a12eb9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\">Discover how you can fix exchange rates with forward contracts and protect your profit margins<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f03b61 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"5f03b61\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.worldfirst.com\/register?region=NZ&#038;lang=en-GB\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a World Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-556a3e6 elementor-widget elementor-widget-text-editor\" data-id=\"556a3e6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Key takeaways<\/strong><\/p><ul><li>Forward contracts let you lock in exchange rates for a specific period of time, protecting your business from unpredictable currency fluctuations<\/li><li>Fixed exchange rates through forward contracts offer a competitive advantage by enabling consistent, stable pricing<\/li><li>WorldFirst offers forward contracts with up to 24 months of fixed rates, helping businesses manage international payments efficiently<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a916a70 e-flex e-con-boxed e-con e-parent\" data-id=\"a916a70\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-152376b elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"152376b\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"513\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-768x513.jpg\" class=\"attachment-medium_large size-medium_large wp-image-42045\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-768x513.jpg 768w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-300x200.jpg 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-1024x684.jpg 1024w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-1536x1025.jpg 1536w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-360x240.jpg 360w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260.jpg 2000w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-affee29 e-flex e-con-boxed e-con e-parent\" data-id=\"affee29\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fe35029 elementor-widget elementor-widget-text-editor\" data-id=\"fe35029\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Introduction<\/strong><\/p><p>For businesses that make frequent international payments, sudden currency fluctuations can affect operating profits and lead to loss of revenue. While you can\u2019t control the currency markets and the sudden fluctuations in exchange rates, you can take measures to protect your profit margins.<\/p><p>One way to manage foreign exchange risks is by booking a forward contract and fixing an exchange rate for subsequent international transfers. Keep reading to learn how forward contracts work and why your business should consider using them.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-893513b elementor-widget__width-initial elementor-widget-tablet__width-initial elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"893513b\" data-element_type=\"widget\" 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.elementor-toc__header-title{color:var(--header-color)}.elementor-widget-table-of-contents.elementor-toc--collapsed .elementor-toc__toggle-button--collapse,.elementor-widget-table-of-contents:not(.elementor-toc--collapsed) .elementor-toc__toggle-button--expand{display:none}.elementor-widget-table-of-contents .elementor-widget-container{min-height:var(--box-min-height);border:var(--box-border-width,1px) solid var(--box-border-color,#9da5ae);border-radius:var(--box-border-radius,3px);background-color:var(--box-background-color);transition:min-height .4s;overflow:hidden}.elementor-toc__header{display:flex;align-items:center;justify-content:space-between;padding:var(--box-padding,20px);background-color:var(--header-background-color);border-bottom:var(--separator-width,1px) solid 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.elementor-toc__list-wrapper{margin-top:.5em;margin-inline-start:var(--nested-list-indent,1em)}.elementor-toc__list-item-text{transition-duration:var(--item-text-transition-duration)}.elementor-toc__list-item-text:hover{color:var(--item-text-hover-color);-webkit-text-decoration:var(--item-text-hover-decoration);text-decoration:var(--item-text-hover-decoration)}.elementor-toc__list-item-text.elementor-item-active{color:var(--item-text-active-color);-webkit-text-decoration:var(--item-text-active-decoration);text-decoration:var(--item-text-active-decoration)}.elementor-toc__list-item-text-wrapper{display:flex;align-items:center}.elementor-toc__list-item-text-wrapper:before,.elementor-toc__list-item-text-wrapper i{margin-inline-end:8px;color:var(--marker-color)}.elementor-toc__list-item-text-wrapper svg{margin-inline-end:8px;fill:var(--marker-color);height:var(--marker-size,.5em);width:var(--marker-size,.5em)}.elementor-toc__list-item-text-wrapper i{font-size:var(--marker-size,.5em)}.elementor-toc__list-item-text-wrapper:before{font-size:var(--marker-size,1em)}.elementor-toc--content-ellipsis .elementor-toc__list-item-text{white-space:nowrap;overflow:hidden;text-overflow:ellipsis}.elementor-toc__list-items--collapsible>.elementor-toc__list-wrapper>.elementor-toc__list-item>.elementor-toc__list-wrapper{display:none}.elementor-toc__heading-anchor{position:absolute}.elementor-toc__body .elementor-toc__list-item-text{color:var(--item-text-color);-webkit-text-decoration:var(--item-text-decoration);text-decoration:var(--item-text-decoration);transition-duration:var(--item-text-transition-duration)}.elementor-toc__body .elementor-toc__list-item-text:hover{color:var(--item-text-hover-color);-webkit-text-decoration:var(--item-text-hover-decoration);text-decoration:var(--item-text-hover-decoration)}.elementor-toc__body .elementor-toc__list-item-text.elementor-item-active{color:var(--item-text-active-color);-webkit-text-decoration:var(--item-text-active-decoration);text-decoration:var(--item-text-active-decoration)}ol.elementor-toc__list-wrapper{counter-reset:item}ol.elementor-toc__list-wrapper .elementor-toc__list-item{counter-increment:item}ol.elementor-toc__list-wrapper .elementor-toc__list-item-text-wrapper:before{content:counters(item,\".\") \". \"}<\/style>\t\t<div class=\"elementor-toc__header\">\n\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__893513b\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__893513b\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t<div id=\"elementor-toc__893513b\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e760472 elementor-widget elementor-widget-heading\" data-id=\"e760472\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Understanding forward contracts<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5147d3 elementor-widget elementor-widget-text-editor\" data-id=\"f5147d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A <a href=\"https:\/\/www.worldfirst.com\/au\/forward-contracts\/\">forward contract<\/a> is an agreement where your payment provider guarantees a specific exchange rate for international transactions for a predetermined period of time.<\/p><p>International traders can use forward contracts to reduce uncertainty due to currency fluctuations, stabilise business cash flow and enable better financial management.<\/p><p>The forward rate is agreed upon in advance when the contract is made. It can be determined by several factors like the current exchange rate of the currency pair and the total time of the contract.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e57b8be elementor-widget elementor-widget-heading\" data-id=\"e57b8be\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How do forward contracts work?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27e31c6 elementor-widget elementor-widget-text-editor\" data-id=\"27e31c6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Here\u2019s how a forward contract agreement works:<\/p><ol><li>You get in touch with a bank or payment provider that supports forward contracts<\/li><li>They\u2019ll review your requirements, transaction volume and the current spot rate to offer the best possible exchange rate for the forward contract<\/li><li>You enter the forward rate contract and start making international payments at a fixed exchange rate, adding more predictability to international trades<\/li><\/ol><p>However, remember that no matter what direction the exchange rates move in, you will only get the originally agreed exchange rate. One downside of forward contracts is missing out on potential gains if exchange rates become favourable. Though, for most customers, the certainty and stability of exchange rates outweigh the downsides of forward contracts.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d59bfe2 elementor-widget elementor-widget-heading\" data-id=\"d59bfe2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the key components of a forward contract?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bc05cd elementor-widget elementor-widget-text-editor\" data-id=\"9bc05cd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There are four key components of every forward contract, which include:<\/p><p><strong>Currency pair:<\/strong> The two currencies that will be exchanged for example USD\/AUD or CNH\/AUD<\/p><p><strong>Contracted exchange rate:<\/strong> The fixed exchange rate at which the currencies will be exchange until the end of the forward contract<\/p><p><strong>Contract period:<\/strong> The period of time until the contract will stay valid<\/p><p><strong>Terms and conditions:<\/strong> Any conditions, clauses, or specific requirements for settlements. The payment provider usually shares the terms and conditions in advance<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-08037c8 e-flex e-con-boxed e-con e-parent\" data-id=\"08037c8\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e8cbe5c elementor-widget elementor-widget-template\" data-id=\"e8cbe5c\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"40817\" class=\"elementor elementor-40817\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-186662f1 e-flex e-con-boxed e-con e-parent\" data-id=\"186662f1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2575568 e-con-full e-flex e-con e-child\" data-id=\"2575568\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-45f05236 elementor-widget elementor-widget-heading\" data-id=\"45f05236\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Open a World Account for free<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f37d2fa elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"1f37d2fa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Open 20+ local currency accounts and get paid like a local<\/li><li>Pay suppliers, partners and staff worldwide in 100+ currencies<\/li><li>Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify<\/li><li>Save with competitive exchange rates on currency conversions and transfers<\/li><li>Lock in exchange rates for up to 24 months for cash flow certainty<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18598aa7 elementor-widget elementor-widget-button\" data-id=\"18598aa7\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.worldfirst.com\/register?region=NZ&#038;lang=en-GB\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2664a66 e-flex e-con-boxed e-con e-parent\" data-id=\"2664a66\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f9482e elementor-widget elementor-widget-heading\" data-id=\"5f9482e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Forward contract vs firm orders vs spot contracts<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6b9c11 elementor-widget elementor-widget-text-editor\" data-id=\"f6b9c11\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If you make frequent international transfers, it&#8217;s necessary to understand the difference between forward contracts, firm orders and spot contracts.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d67f56f elementor-widget elementor-widget-html\" data-id=\"d67f56f\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style type=\"text\/css\">\r\n.tg  {border-collapse:collapse;border-spacing:0;}\r\n.tg td{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\r\n  overflow:hidden;padding:10px 5px;word-break:normal;}\r\n.tg th{border-color:black;border-style:solid;border-width:1px;font-family:Arial, sans-serif;font-size:14px;\r\n  font-weight:normal;overflow:hidden;padding:10px 5px;word-break:normal;}\r\n.tg .tg-bobw{font-weight:bold;text-align:center;vertical-align:bottom}\r\n.tg .tg-7zrl{text-align:left;vertical-align:bottom}\r\n.tg .tg-j6zm{font-weight:bold;text-align:left;vertical-align:bottom}\r\n<\/style>\r\n<table class=\"tg\"><thead>\r\n  <tr>\r\n    <th class=\"tg-7zrl\"><\/th>\r\n    <th class=\"tg-bobw\">Forward contracts<\/th>\r\n    <th class=\"tg-bobw\">Spot contracts<\/th>\r\n    <th class=\"tg-bobw\">Firm orders<\/th>\r\n  <\/tr><\/thead>\r\n<tbody>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Purpose<\/td>\r\n    <td class=\"tg-7zrl\">Lock in an exchange rate for future transactions<\/td>\r\n    <td class=\"tg-7zrl\">Immediate international payments at the current market rate<\/td>\r\n    <td class=\"tg-7zrl\">Target a specific exchange rate for a future transaction<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Exchange Rate  <\/td>\r\n    <td class=\"tg-7zrl\">Fixed, agreed upon in advance<\/td>\r\n    <td class=\"tg-7zrl\">Based on the live market rate (spot rate)<\/td>\r\n    <td class=\"tg-7zrl\">Executed when the market hits your desired rate<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Time Sensitivity<\/td>\r\n    <td class=\"tg-7zrl\">For future transactions over a set period<\/td>\r\n    <td class=\"tg-7zrl\">Immediate or near-immediate transactions<\/td>\r\n    <td class=\"tg-7zrl\">Monitors market 24\/7 and executes when target rate is reached<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Certainty<\/td>\r\n    <td class=\"tg-7zrl\">Provides predictability and stability in exchange rates<\/td>\r\n    <td class=\"tg-7zrl\">The exchange rate is determined at the time of transaction<\/td>\r\n    <td class=\"tg-7zrl\">Provides the desired rate if the market hits the target, but no guarantee<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Flexibility<\/td>\r\n    <td class=\"tg-7zrl\">Limited; fixed rate regardless of market fluctuations<\/td>\r\n    <td class=\"tg-7zrl\">High; rate is based on current market conditions<\/td>\r\n    <td class=\"tg-7zrl\">Medium; flexible to market changes but limited to target rate<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Process<\/td>\r\n    <td class=\"tg-7zrl\">Requires agreement with a bank or payment provider<\/td>\r\n    <td class=\"tg-7zrl\">Simple, quick transaction with rate based on current market<\/td>\r\n    <td class=\"tg-7zrl\">Requires setting up a target rate and monitoring by the provider<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Risk<\/td>\r\n    <td class=\"tg-7zrl\">Potential to miss out on favorable market movements<\/td>\r\n    <td class=\"tg-7zrl\">Exposed to market rate fluctuations<\/td>\r\n    <td class=\"tg-7zrl\">Risk of not reaching the target rate before expiry<\/td>\r\n  <\/tr>\r\n  <tr>\r\n    <td class=\"tg-j6zm\">Best For<\/td>\r\n    <td class=\"tg-7zrl\">Businesses needing stability in cash flow for future payments<\/td>\r\n    <td class=\"tg-7zrl\">Individuals or businesses needing immediate currency exchange<\/td>\r\n    <td class=\"tg-7zrl\">Those with a specific rate target but without time to monitor the market<\/td>\r\n  <\/tr>\r\n<\/tbody><\/table>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-212f980 elementor-widget elementor-widget-heading\" data-id=\"212f980\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Benefits of a forward contract<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-781ccf1 elementor-widget elementor-widget-heading\" data-id=\"781ccf1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Hedge against sudden currency risks<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0c7613 elementor-widget elementor-widget-text-editor\" data-id=\"c0c7613\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Currency markets are volatile and foreign exchange rates can fluctuate throughout the day due to various political, economic and regional factors. The unpredictable movements of exchange rates can end up affecting your financial planning, hurting your bottom line and leading to uncertainty in business.<\/p><p>Forward contracts allow you to lock in exchange rates and add some certainty to your business transactions, protecting profits and improving predictability.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1cee29 elementor-widget elementor-widget-heading\" data-id=\"f1cee29\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Better forecasting and budgeting<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ed40b5 elementor-widget elementor-widget-text-editor\" data-id=\"9ed40b5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>When you know exactly what exchange rates you\u2019ll get for transactions, you can budget and forecast finances better. Your business can build more accurate budget projections, anticipate costs and make better business decisions.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5473236 elementor-widget elementor-widget-heading\" data-id=\"5473236\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Improved cash flow<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f7057a elementor-widget elementor-widget-text-editor\" data-id=\"4f7057a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Fixed exchange rates for a fixed period of time can stabilise your cash flow and lead to better planning. You can better manage your capex and streamline business operations without worrying about sudden changes in exchange rates.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2948ee6 elementor-widget elementor-widget-heading\" data-id=\"2948ee6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Competitive advantage<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-054730c elementor-widget elementor-widget-text-editor\" data-id=\"054730c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With a stable exchange rate, you\u2019re able to provide your customers with more stable, competitive pricing. It directly leads to a potential competitive advantage in international markets.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f932aa elementor-widget elementor-widget-heading\" data-id=\"7f932aa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Book a forward contract with WorldFirst <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d17f5f5 elementor-widget elementor-widget-text-editor\" data-id=\"d17f5f5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With WorldFirst, you can book a forward contract and lock in exchange rates for up to 24 months. We help SMEs secure their future cross-border payment needs and protect their business from adverse foreign currency fluctuations.<\/p><p>Locking in an exchange rate with a forward contract means you know exactly what exchange rate you\u2019re getting, for a set time. You can predict your cash flow to be more prepared, accurate and competitive with your planning.<\/p><p>If you already have a World Account, you can get in touch with your relationship manager to discuss the key terms of the forward contract which usually include:<\/p><ul><li>The currencies involved<\/li><li>The rate of the contract<\/li><li>Tenure (length) of the contract<\/li><li>Determining whether you require a fixed, flexible, or window forward<\/li><li>Initial margin requirements<\/li><\/ul><p>If you are not ready to commit to a forward contract yet, you can also consider <a href=\"https:\/\/www.worldfirst.com\/au\/firm-orders\/\">firm orders<\/a> or <a href=\"https:\/\/www.worldfirst.com\/au\/spot-contracts\/\">spot contracts<\/a> with WorldFirst to make quick, secure and reliable international payments at competitive exchange rates.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66ff7f9 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"66ff7f9\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.worldfirst.com\/register?region=NZ&#038;lang=en-GB\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a World Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af08763 elementor-widget elementor-widget-text-editor\" data-id=\"af08763\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><i><span style=\"font-weight: 400\">Disclaimer: The information contained is general only and largely our views.\u00a0 Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products\/services and referenced material constitute the author\u2019s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.<\/span><\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-90fe2f1 e-flex e-con-boxed e-con e-parent\" data-id=\"90fe2f1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-04d7d9a e-flex e-con-boxed e-con e-child\" data-id=\"04d7d9a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bf7ea85 elementor-widget__width-inherit elementor-pagination-type-bullets elementor-arrows-position-inside elementor-pagination-position-outside elementor-widget elementor-widget-n-carousel\" data-id=\"bf7ea85\" data-element_type=\"widget\" data-settings=\"{&quot;carousel_items&quot;:[{&quot;slide_title&quot;:&quot;Slide #1&quot;,&quot;_id&quot;:&quot;58e78d9&quot;}],&quot;slides_to_show&quot;:&quot;1&quot;,&quot;slides_to_show_tablet&quot;:&quot;1&quot;,&quot;slides_to_show_mobile&quot;:&quot;1&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;autoplay_speed&quot;:5000,&quot;pause_on_hover&quot;:&quot;yes&quot;,&quot;pause_on_interaction&quot;:&quot;yes&quot;,&quot;infinite&quot;:&quot;yes&quot;,&quot;speed&quot;:500,&quot;offset_sides&quot;:&quot;none&quot;,&quot;arrows&quot;:&quot;yes&quot;,&quot;pagination&quot;:&quot;bullets&quot;,&quot;image_spacing_custom&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;image_spacing_custom_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;image_spacing_custom_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/www.worldfirst.com\/app3\/plugins\/elementor-pro\/assets\/css\/widget-nested-carousel.min.css?ver=1736731740\">\t\t<div class=\"e-n-carousel swiper\" dir=\"ltr\">\n\t\t\t<div class=\"swiper-wrapper\" aria-live=\"off\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"1\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"1 of 1\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e5bccab e-flex e-con-boxed e-con e-child\" data-id=\"e5bccab\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5333481 e-flex e-con-boxed e-con e-child\" data-id=\"5333481\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-df5caed e-flex e-con-boxed e-con e-child\" data-id=\"df5caed\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4e31758 e-con-full e-flex e-con e-child\" data-id=\"4e31758\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4e0da3b elementor-widget elementor-widget-image\" data-id=\"4e0da3b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240521053218194.png\" class=\"attachment-large size-large wp-image-27466\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240521053218194.png 230w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240521053218194-150x150.png 150w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-569d4aa e-flex e-con-boxed e-con e-child\" data-id=\"569d4aa\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b49e335 elementor-widget elementor-widget-heading\" data-id=\"b49e335\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Written by Nidhi Kataria, Head of Marketing ANZ at WorldFirst<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c29c324 elementor-widget elementor-widget-heading\" data-id=\"c29c324\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Nidhi Kataria has worked in marketing since 2009 across various functions, specializing in acquisition growth. She has held regional and global marketing roles at notable financial and technology firms and has lived in Australia since 2014. She believes that businesses can benefit from WorldFirst to make finances clearer, easier, and simpler to manage, allowing them to focus on growing their businesses.<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12211ac Last3Articles elementor-widget elementor-widget-shortcode\" data-id=\"12211ac\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"blogs_container\">\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\">What is a forward contract?<\/a>\n                <\/h1>\n                <p>A forward contract is an agreement where your payment provider guarantees a specific exchange rate for international transactions for a predetermined period of time.<\/p>\n                <span>Dec \/ 2024<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/taking-a-brand-to-new-market\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241220083534701-scaled.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/taking-a-brand-to-new-market\/\">Taking a brand to a new market<\/a>\n                <\/h1>\n                <p>Explore why businesses should consider taking their brand to new markets and how they can go about it.<\/p>\n                <span>Dec \/ 2024<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/mid-market-exchange-rate\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241219031019810-scaled.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/mid-market-exchange-rate\/\">What is the mid-market exchange rate?<\/a>\n                <\/h1>\n                <p>The interbank or mid-market exchange rate is the rate banks and financial institutions use to trade currencies with each other.<\/p>\n                <span>Dec \/ 2024<\/span>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-439c0d2 e-grid e-con-boxed e-con e-child\" data-id=\"439c0d2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-96889b8 e-flex e-con-boxed e-con e-parent\" data-id=\"96889b8\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7b8fc28 elementor-widget elementor-widget-template\" data-id=\"7b8fc28\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"40808\" class=\"elementor elementor-40808\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-46486ab e-flex e-con-boxed e-con e-parent\" data-id=\"46486ab\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-39aa07a4 e-flex e-con-boxed e-con e-parent\" data-id=\"39aa07a4\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-23beeb86 elementor-widget elementor-widget-heading\" data-id=\"23beeb86\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">You might also like<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26b49d elementor-widget elementor-widget-text-editor\" data-id=\"26b49d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Insights from WorldFirst cover the latest FX news, top accounting tips, strategies to mitigate risk and key industry trends. Choose a category below to find out more.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-73c65f65 e-flex e-con-boxed e-con e-parent\" data-id=\"73c65f65\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b32920e elementor-widget elementor-widget-button\" data-id=\"2b32920e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/nz\/insights\/global-business-expansion\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Business expansion<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4aa3b2f6 elementor-widget elementor-widget-button\" data-id=\"4aa3b2f6\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/nz\/insights\/ecommerce-seller-resources\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">eCommerce insights<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f4bb8b8 elementor-widget elementor-widget-button\" data-id=\"2f4bb8b8\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/nz\/insights\/customer-stories\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Customer stories<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a1bd8d9 e-flex e-con-boxed e-con e-parent\" data-id=\"a1bd8d9\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cd7b4ec elementor-widget elementor-widget-template\" data-id=\"cd7b4ec\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"40811\" class=\"elementor elementor-40811\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-10cd17a0 e-flex e-con-boxed e-con e-parent\" data-id=\"10cd17a0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33c8ed53 elementor-widget elementor-widget-heading\" data-id=\"33c8ed53\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Businesses trust WorldFirst<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b9674e9 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"5b9674e9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Almost 1,000,000 businesses have sent USD$300B around the world with WorldFirst and its partner brands since 2004<\/li><li>Your money is safeguarded with leading financial institutions<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e8fc738 elementor-widget elementor-widget-image\" data-id=\"5e8fc738\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"271\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-1024x347.png\" class=\"attachment-large size-large wp-image-27515\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-1024x347.png 1024w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-300x102.png 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-768x260.png 768w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-1536x520.png 1536w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248-360x122.png 360w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/05\/20240418082639248.png 1920w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home\u00a0 &gt;\u00a0\u00a0Grow your Business\u00a0\u00a0&gt; \u00a0Business Banking Insights What is a forward contract? Last updated: 27.12.2024 Discover how you can fix exchange rates with forward contracts and protect your profit margins Open a World Account Key takeaways Forward contracts let you lock in exchange rates for a specific period of time, protecting your business from unpredictable [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":42045,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is a forward contract? | WorldFirst NZ<\/title>\n<meta name=\"description\" content=\"A forward contract is an agreement where your payment provider guarantees a specific exchange rate for international transactions for a predetermined period of time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a forward contract?\" \/>\n<meta property=\"og:description\" content=\"A forward contract is an agreement where your payment provider guarantees a specific exchange rate for international transactions for a predetermined period of time.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\" \/>\n<meta property=\"og:site_name\" content=\"WorldFirst NZ\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-27T02:49:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-27T02:55:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260-1024x684.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"684\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"anja\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"anja\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\"},\"author\":{\"name\":\"anja\",\"@id\":\"https:\/\/www.worldfirst.com\/nz\/#\/schema\/person\/ba9944195926cfc2df667d3c4fef880d\"},\"headline\":\"What is a forward contract?\",\"datePublished\":\"2024-12-27T02:49:25+00:00\",\"dateModified\":\"2024-12-27T02:55:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\"},\"wordCount\":1342,\"publisher\":{\"@id\":\"https:\/\/www.worldfirst.com\/nz\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/17\/2024\/12\/20241227023527260.jpg\",\"articleSection\":[\"Business Banking Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\",\"url\":\"https:\/\/www.worldfirst.com\/nz\/insights\/business-banking-insights\/what-is-a-forward-contract\/\",\"name\":\"What is a forward contract? 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