Home FAQs Uncategorized What if I no longer need the Forward Contract?

What if I no longer need the Forward Contract?

If you want to close a Forward Contract, talk to your OFXpert as soon as possible. When we close an FX transaction, we buy back the currency that we have bought when you entered into the FX transaction at prevailing market rates. If the value of the currency you have asked us to exchange has strengthened, a loss will be incurred on the FX transaction and you will be liable to pay us the amount of that loss, together with any reasonable expenses or other costs we incur as a result.