What is Assurance Based Foreign Exchange Purchase / Sale Transactions (Forward)?
A Foreign exchange sales and purchase transaction based on assurance performed in a way to be realized on a forward fixed term based on the date, exchange types, amount and exchange rates determined and committed in advance between the Bank and the customer. In this transaction it is the bank that makes the commitment.
What are the Conditions of Assurance Based Foreign Exchange Purchase / Sale Transactions (Forward)?
Forward product is applied only as cash blocked for the individual customers. It is essential that the entire amount to be converted at the fixed date must be kept in the participation accounts of the customer until the maturity day.
Why should I use Assurance Based Foreign Exchange Purchase / Sale (Forward)?
the objective of the forward product is to ensure protection from exchange rate risk.
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