FORWARD TRANSACTION - Saigon Joint stock Commercial Bank

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FORWARD TRANSACTION

Forward transaction is a commitment between two parties to exchange currencies, agreeing on an exchange rate and the settlement will be at a specific time in the future.

AVAILABLE FOR

Enterprises/individuals that need fixed foreign exchange rates for future use and as a hedge against risks unexpected or adverse movements in the currencies' future spot rates.

Foreign investors whose residency status is non-resident, owning domestic VND government bonds and aiming to use forward transactions to protect their bonds from risks in exchange rate fluctuations.

BENEFITS

Fixed exchange rates for future transactions.

An instrument against risks of exchange rate fluctuations and used to control cash flow and budgets.

REQUIREMENTS

Lawful relevant documents in correspondence with term of forward exchange contracts.

Partial margin deposits based on total value of forward exchange contracts.

PROCEDURES

Official documents proving FX trade purposes to comply with the State Bank’s Foreign Exchange Regulations and SCB’s Regulations.

Signed forward transaction contracts.

Information on product and service policies is only for reference and may change from time to time. Please contact your nearest SCB (sub)branch or hotline 1900 6538 for advice.

SIMILAR PRODUCT

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Spot transaction refers to the buying or selling of foreign currency with spot exchange rate at the time of the transaction and time frame for settlement is within two business days from the trade date with SCB.

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A service for needs to preserve capital in terms of gold and invest to make profits by speculating fluctuation in gold prices.

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A service for customers using VND or other currencies to exchange and make international transfers with lawful purposes in accordance with FX Management Regulations, especially acceptable for currencies that are currently not applied at SCB.

 

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