 |
|
|||||||||
  Flexible Spot Contract
A flexible spot contract is a product that TransferMate has developed to allow you to book an exchange rate to be paid for by a future date. If you need to make or receive a payment at a future date and want to know now what it will cost you at that future date you can book the exchange rate now safeguarding your profit and providing you a clear cost picture to allow you to budget effectively. We can enter into a spot contract with you and agree on the payment terms for that future date, subject to adequate approval of your credit circumstances.
Example Company A, an American company is contracted to purchase a machine for the price of 1 million British pounds (GBPs) in 3 months time. By failing to put an exchange rate contract in place Company A runs the risk of the GBP strengthening or equally the USD weakening in the interim causing the purchase price to become more expensive at the future date. You can agree now to book your GBPs now based on the prevailing spot rate and agree a payment facility with TransferMate, subject to approval regarding your financial circumstances. In the currenct economic environment significant swings in exchange rates can make it very difficult for companies to budget effectively.
Our flexible spot contract will allow you peace of mind to know exactly what cost will be regarding your future purchase or transfer. As a specialist foreign exchange provider we can designate a relationship contact to liaise with you on your expense and keep you informed of movements in the particular spot currency that effects you, helping you to make an informed decision on when to contract.
|
|