Non-deliverable forward contract defined as a contract for difference on exchange rates settled by a single foreign-currency payment. A Non-Deliverable Forward Contract is a contract for the difference between an agreed forward exchange rate and the actual spot rate at maturity, with the spot rate taken as the domestic or a market-determined rate, and settled by a single payment in a foreign currency.
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Provisions expressly mentioned in the judgment/order text.
Non-deliverable forward contract defined as a contract for difference on exchange rates settled by a single foreign-currency payment.
A Non-Deliverable Forward Contract is a contract for the difference between an agreed forward exchange rate and the actual spot rate at maturity, with the spot rate taken as the domestic or a market-determined rate, and settled by a single payment in a foreign currency.
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