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.
On the other hand, forward contracts are mostly used by companies, institutions, or hedgers that want to eliminate the volatility of a currencyâs price in the future, and delivery of the currency will usually take place. Companies routinely use these tools to manage their exposure to currency risk. The forward exchange rate is the exchange rate at which a buyer and seller agree to transact a currency at some date in the future. 2  Swaps, options, and futures are additional types of currency instruments used in the forward market.