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Forward Contracts means the Contract stands between two communities about sell or buy terms with Non-standardized points related to assets, time duration & price value.
Future contracts also similar to forward contracts. But with standardized points which will not allow certain terms like partial shipments, refunds etc
Forward contracts are the expected contracts to be made in a certain period of time yet the future contracts are planned to take place yet no budget is allocated yet for these contracts and they will take place if for example sales of this company grow up by a certain percentage.
