Forward contracts.

When you book a Forward Contract, you can lock in a rate for a specified date in advance. This aids your company's ability to weather exchange rate swings.

Forward exchange rates are a type of risk management tool that may be utilized by both businesses and individuals.

Utilized as a 'hedging' technique, and WorldwiseFX not only provides this service to corporations, but also to individuals who want to arrange their transfers ahead of time.

You can do the following with Worldwisefx:

• Before getting a quote, choose a preferred Date of Conversion, lock in an exchange rate for a payment date up to a year in advance, and pay only a 5% deposit in front, with the remainder owing on the due date.
• Keep in mind that currency rates fluctuate regularly and can become more or less favorable over time, so keep this in mind when deciding on a forward exchange rate. However, this strategy is appealing if:
• You want more transparency and fewer variables in your cash flow planning, and you don't want to be surprised by unexpected shortfalls.