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How does a forward contract work?

Send money Lock your FX rate

A forward contract or forex forward contract sets a fixed forward currency exchange rate now for a payment you’ll make later. So even if the market rate changes, your rate stay locked. It’s ideal for planned international expenses like payroll, supplier payments, intra-company or loan installments. Instarem enables you to access this service via our partner Corpay. 

Related FAQs

Who do I contact for help while signing up with Corpay? Can I book FX rates directly from my Instarem business account?  How can I lock FX rates?  What is the maximum duration I can lock an exchange rate for?  What’s the difference between FX hedging and forward contracts? How does locking an FX rate work?

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