Car ID Inc. is a U.S.-based distributor of auto supplies for several domestic and foreign car companies. On November 1, Year 1, Car ID sold and shipped auto parts to a customer in Switzerland for a price of 500,000 Swiss francs (CHF). Payment is to be received on January 30, Year 2. On the date of sale, Car ID also entered into a three-month forward contract to sell CHF 500,000. The forward contract is properly designated as a cash flow hedge of a foreign currency receivable. Car ID's incremental borrowing rate is 12%. The present value factor for one month at an incremental borrowing rate of 12% is .99010. Relevant exchange rates are as follows:

Spot Forward Rate

Date Rate (to January 30, Year 2)

November 1, Year 1. . . . . . . . . . . . . . $0.500 $0.495

December 31, Year 1. . . . . . . . . . . . . . 0.520 0.516

January 30, Year 2. . . . . . . . . . . . . . . . 0.490 0.490

(a) Car ID is required to formally document the hedging transaction at the time the forward contract is entered into. In general, what information is to be included in order to satisfy the hedge documentation requirements?