The climate in southern Florida is subtropical and humid, with temperatures ranging from 60F (16C) in midwinter (which is peak tourist season) to around 80F (27C) in summer.he climate in southern Florida is subtropical and humid, with temperatures ranging from 60F (16C) in midwinter (which is peak tourist season) to around 80F (27C) in summer.
DEFINITION of 'Forward Contract'. A customized contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging.Unlike standard futures contracts, a forward contract can be customized to any commodity, amount and delivery date.REAKING DOWN 'Forward Contract'. Consider the following example of a forward contract. Assume that an agricultural producer has 2 million bushels of corn to sell six months from now, and is concerned about a potential decline in the price of corn.
A forward rate agreement is a forward contact on a short-term interest rate, usually LIBOR, in which cash flow obligations at maturity are calculated on a notional amount and based on the difference between a predetermined forward rate and the market rate prevailing on that date. The structure is the same for all currencies. 2  FRAs mature in a certain number of days and are based on a rate that applies to an instrument maturing in a certain number of days, measured from the maturity of the FRA.