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Want to lock in rates today for certainty tomorrow? A forward contract is a standard currency transaction for settlement on a future date. The spot rate is adjusted for the interest rate differential between the two currencies over the selected period of time. On the future value date the forward is settled at the original contracted rate. EncoreFX offers the flexibility to pre-deliver forward contracts before the value date. EncoreFX also offers non-deliverable forwards (NDF) to qualified parties to manage exotic currency exposure.