Foreign Exchange Forward Deal refers to the foreign exchange transaction on a foreign exchange rate agreed by the buyer and seller under a foreign exchange contract, and for delivery on an agreed day, which is generally a certain day after the second working day after the transaction. We normally offer FX forward with settlement no more than one year.

USD & VND.

1. A customer entrusts one bank with the purchasing of a certain currency and the selling of another currency at a contractual foreign exchange rate on a specified settlement day to achieve the conversion between various foreign currencies.
2. For the high-interest currency, the forward rate is lower than the spot rate (discount), while the low-interest currency, it is higher (premium). The customer may fully hedge exchange rate risk by finalizing, at the trading day, the exchange rate for the settlement date in the future.

1. Hedging market risk. It is applicable to meeting the customer's future foreign exchange demand, to their import or export trade settlement need, to the payment of L/C margin and so on.
2. Customers are required to open a current account with us; in general a margin account should also be opened.

The customer shall have deposited margin or have a line of credit with Bank of China.

1. Signing the agreement: The applicant, before the foreign exchange forward transaction, shall sign with Bank of China the ISDA Agreement.
2. Implementation of margin: Our bank requires the customers to deposit fund as margin or our bank deduct the customer’s credit line.
3. Inquiry: The applicant determines the details of a forward foreign exchange transaction via the consignment in written form and makes the corresponding inquiry to Bank of China.
4. Transaction confirmation: When a transaction is closed, Bank of China will deliver a transaction confirmation to the applicant in written form.
5. Settlement: The delivery is conducted on the maturity date. The applicant may, if necessary, request the Bank to revise the delivery date.