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32. Forward Contract - Honouring, Cancelling and Roll Over - Importer's Perspective Bocek qaytion Pradeep Puips and Papers Ltd (3PL), on 1st July entered into a 3 Month forward contract for buying GBP 1,00,000 for meeting an import obligation. The relevant rates on various dates are - 1st July 1st August 1st September 1st October Spot 81.50 81.85 Spot 82.10 - 82.40 Spot 81.70 - 82.05 Spot 82.50 - 82.75 3-Month Forward 2-Month Forward 1-Month Forward 82.00 - 82.30 1-Month Forward 81.90 - 82.30 82.25 - 82.60 2-Month Forward 82.40 - 82.70 82.60 - 82.90 6 Explain the further course of action if 3PL- (a) Honours on - 1st October 1st September, and meets the import obligation on the same date. 1st August (b) Canceis the contract on - 1st September 1st October, as the import obligation does not materialize. usoll had a 2 Months on 1st September (c) Rolls over the contract for - 1 Month on 1st October, as the import obligation gets postponed to 1st November, Concel diad at Bank an orginal diny sale Bid Rule in art e Estat so