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forwards

/ˈfɔːwΙ™dz/ /ˈfΙ”ΙΉwɚdz/
Visual illustration of forwards: A direct agreement between two parties to buy or sell an asset at a specific point in the future; distinguished from a futures contract in that the latter is standardized and traded on an exchange.
noun

A direct agreement between two parties to buy or sell an asset at a specific point in the future; distinguished from a futures contract in that the latter is standardized and traded on an exchange.