Common use of Forward Contracts Clause in Contracts

Forward Contracts. 6.1. If you wish to enter a Forward Contract, you must also give us an Instruction to make a payment on or before the Value Date of the Forward Contract. If you fail to do so, we reserve the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs.