Forward contracts
A forward contract is an agreement to purchase a certain amount of currency over a prolonged period of time. This tool enables you to take advantage of a preferable exchange rate against a future requirement.
Synergy can secure your exchange rates from 1 week to 2 years and may require little or no deposit to do so.
Benefits of a forward contract
Gaurenteed Rates
Confidence in your currency requirements as your exchange rate has been secure for the time agreed, regardless of any volatility between the time of purchase to time of delivery.
Flexible Delivery
Synergy are very flexible with forward contracts enabling you to extend expiry dates if a job has been delayed and enabling to drawdown funds whenever you please.
Forecast Your Needs
Accurately forecast your requirements with the tier 1 exchange rates you have already secured in mind, allowing you to budget accurately regardless of future uncertainty.
Types of forward contract
Fixed forward contracts
Lock in a currency rate up to 2 years in advance.
Window forward contract
If delivery dates are not certain, window forwards provide you with the flexibility to lock in a rate and use it whenever you like during that period.