Non-deliverable Forwards

The terms and conditions of the swaps incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The swpas have the following characteristics:

Contract Overview: An NDF is a forward contract in which the counterparties settle the difference between the NDF price or rate and the prevailing spot price or rate on an agreed upon notional amount.
Reference Currency: Non-deliverable currency:
CNY Chinese Renminbi
IDR Indonesian Rupiah
INR Indian Rupee
KRW South Korean Won
MYR Malaysian Ringgit
PHO Philippine Peso
TWD Taiwan Dollar
VND Vietnamese Dong
EGP Egyptian Pound
RUB Russian Ruble
KZT Kazakh Tenge
ARS Argentine Peso
BRL Brazilian Real
CLP Chilean Peso
COP Colombian Peso
GTQ Guatemalan Quetzal
PEN Peruvian Nuevo Sol
UYU Uruguayan Peso
VEB Venezuelan Bolivar
Settlement Currency: See list below.
Notional Currency: Currency iin which the contract size is expressed.
Trade Date: The date on which the parties enter into the contract.
Quoting Convention & Min Increment: Notional amount, agreed by the counterparties.
Minimum Size: Notional amount, agreed by the counterparties.
Trading Conventions: Buy or Sell which refers to the contract size expressed in notional currency.
Forward Rate: Currency Exchange Rate expressed as the amount of Reference Currency per unit of Settlement Currency.
Settlement Date: The date on which the option settles.
Fixing Date: The date on which the difference between the prevailing market exchange rate and the agreed forward exchange rate is calculated.
Settlement Procedure: Bilateral settlement performed in settlement currency.