
You’ve priced a job using today’s exchange rate but you don’t need to pay the supplier until next spring. A forward contract lets you set that rate now, so the number in your budget is the number you will pay. Here’s how it works.

You’ve priced a job using today’s exchange rate but you don’t need to pay the supplier until next spring. A forward contract lets you set that rate now, so the number in your budget is the number you will pay. Here’s how it works.

Your bank makes money every time you pay a foreign supplier. Not in fees — in the exchange rate itself. It’s legal, it’s standard practice, and most construction businesses have no idea it’s happening.