a3412bbc__Contracts___TheFinanceConcept__Forward_contracts
[Sr. No.] 8 [Future Contracts] Parties have indirect contracts between them, as exchange write a contract in between both parties. The exchange collect the payment from one party and transfer to other party. [Forward contracts] 
Both parties have direct contract between them, and payments are also handled by them independently as per there own terms and conditions.
Difference between Forward Contracts and Future Contracts - TheFinanceConcept