UNSPSC 64111701: Forward contract, financial

A non-standardized contract between two parties to buy or to sell a financial asset at a specified future time at a price agreed upon today. Usually arranged on an over the counter OTC basis, e.g., outside of an established exchange, the party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.

The price of the underlying instrument, in whatever form, is paid before control of the instrument changes.

UNSPSC 64111701 Forward contract, financial (Commodity) does not align with the state and local procurement activity actually posted under this code. The recent opportunities tagged to this Commodity span underwriting services for school districts, cryptocurrency custodial and liquidity services for state treasuries, arbitrage compliance consulting for county bond issuances, commercial paper dealer and liquidity provider roles for city capital improvement programs, unclaimed property auditing and collection services for state revenue departments, automated transit vehicle procurement for statewide transit authorities, vehicle lease-purchase financing for municipal fleets, financial advisory services for state transportation departments, and revenue intelligence platform procurement for airport authorities. None of these solicitations involve forward contracts or financial derivatives in the commodity or financial-instrument sense the code nominally describes.

The issuing bodies span state departments (Texas Comptroller, Washington Department of Revenue, Georgia Department of Transportation), county governments (Okaloosa County, Florida), cities (Dallas, Kingman, Atlanta), school districts (Manor Independent School District, Texas), and transit authorities (Jacksonville Transportation Authority). Recent activity concentrates in Texas, Florida, Washington, Georgia, and Arizona. Representative recent solicitations include Manor ISD's RFQ 27-001 for underwriting services (due July 27, 2026), Texas Comptroller's RFP 908-26-1778WS for Bitcoin custodial and liquidity services (due June 15, 2026, presentations July 31, 2026, contract execution targeted August 28, 2026), Okaloosa County's ITQ ITQCOC6026 for arbitrage consulting on tax-exempt bond compliance (due July 15, 2026), Dallas's RFP BEZ2600030089 for commercial paper liquidity providers across three capital programs (due May 22, 2026, with SBE participation goals of 3.71–38 percent depending on category), and the State of Georgia DOT's eRFP 48400DOT0003499 for financial advisory services (due April 9, 2026). The code shows activity but the work solicited bears no clear relation to the Commodity's stated scope.