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Forex forward cover

See your open cover before the contract matures

Record each forward contract your bank confirms. Expodite uses the cover when your receipts are converted, shows the real gain or loss against spot, and warns you while there is still time to act.

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  • Every confirmed contract in one register
  • Cover drawn when your receipts are converted
  • Gain or loss against the spot rate on each value date
Every contractwith its status kept current for you
1 registerfor open cover, FX gain and cancellation cost
Every drawcompared with spot on its value date

How it works

  1. Step 1

    Record the contract

    Once your bank confirms a contract, enter its details in Expodite. You have every contract in one place.

  2. Step 2

    Draw on it when money arrives

    When you convert a receipt, Expodite draws on your open cover and converts any balance at spot. One receipt can use several contracts, and one contract can serve many receipts.

  3. Step 3

    Act before maturity

    If cover is still open near maturity, Expodite warns you on the contract and in your alerts, so you can plan the next receipt or speak to your bank in time.

Real gain or loss

Know what each contract actually earned you

For every draw, Expodite compares the contract rate with the spot rate on the value date and shows the gain or loss in rupees. The contract screen totals cover, delivered and gain against spot, so you can judge your hedging on facts.

  • Gain or loss shown on every draw
  • Contract totals for cover, delivered and gain
  • FX gain for the year on the register
Status and maturity

Open cover, never a surprise

Each contract's status updates on its own as cover is used and dates pass. If cover is still open close to maturity, the contract is flagged and your team is alerted.

  • Status worked out, never typed
  • Maturity warning with the open amount
  • Alert to your team in good time
Cancellations and reversals

A full record, even when plans change

Cancel a contract with the date, the cancellation charge in rupees and the reason. The total cancellation cost for the year is shown on the register. If a receipt is reversed, its cover goes back to the contract and stays visible as released.

  • Cancellation charge and reason recorded
  • Cancellation cost totalled for the year
  • Released cover kept visible on the contract
“Expodite gets our nutraceutical export documents ready in minutes, and has saved us a lot of time and effort while ensuring accuracy.”
DirectorA nutraceutical exporter

Works with

Payments and receiptsLearn more Dashboard

Money, shipments and risks at a glance.

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Questions

How do our forward contracts get into Expodite?

Book the contract with your bank as usual. Once the bank confirms it, record it in Expodite. From then on Expodite tracks its use, gain or loss and maturity.

Can one receipt use more than one contract?

Yes. A receipt can draw on several contracts, and a contract can serve many receipts. Any balance is converted at spot.

How is gain or loss worked out?

For every draw, Expodite compares the contract rate with the spot rate on the value date and shows the difference in rupees.

Which currencies are supported?

Any currency pair your bank books against the rupee, for example USD/INR and EUR/INR.

Free up your time. Grow your exports.

A free 30-minute demo, online.

Book a free demoOr write to info@expodite.in

+91-8858857369 info@expodite.in

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