UNSPSC 64111702: Forward contract, commodity

A non-standardized contract between two parties to buy or to sell a commodity 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 commodity 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 commodity, in whatever form, is paid before control of the commodity changes.

UNSPSC 64111702 Forward contract, commodity is a Commodity code that encompasses financial derivative transactions, hedging instruments, and forward purchase agreements for commodities. State and local governments use this code to procure financial services that lock in future pricing, manage cash flow volatility, and execute strategic purchasing strategies across bond programs, currency exposures, and commodity stockpiling. Recent activity shows substantial interest in forward contracting and related financial advisory services, though the specific opportunities posted under this code span diverse financial transaction types that extend well beyond traditional commodity forwards into arbitrage compliance, liquidity facilities, and underwriting services.

State and local issuers—including independent school districts, counties, state departments of transportation, and municipal utilities—regularly solicit under this code. Texas dominates recent activity: Manor Independent School District posted an RFQ for underwriting services (due July 27, 2026), the Texas Comptroller of Public Accounts issued an RFP for custody and liquidity services supporting a strategic Bitcoin reserve (RFP 908-26-1778WS, response deadline extended with presentations scheduled July 31, 2026), and the Texas Water Development Board solicited arbitrage compliance services for 39 outstanding bond issues under a capped contract value of $363,000 (RFQ 580-26-RFQ-0016, due May 28, 2026). Okaloosa County, Florida sought arbitrage consulting services to ensure tax-exempt bond compliance (ITQ ITQCOC6026, due July 15, 2026), while the City of Dallas posted two duplicate solicitations for commercial paper liquidity providers supporting three capital improvement programs (General Obligation, Love Field Airport, and Stormwater Drainage Management) with authorizations up to $350 million, $300 million, and $125 million respectively (RFP BEZ2600030089 / BEZ2500030089, proposals due May 22, 2026). The Washington State Department of Revenue sought unclaimed property auditing and collection services across five counties (RFP 2026-01 and related RFPUCP202601, proposals due June 5–15, 2026). A Georgia Department of Transportation eRFP for financial advisory services posted February 27, 2026 with responses due April 9, 2026; the City of Atlanta Department of Aviation issued a pre-advertisement notice for a Digital Revenue Intelligence and Engagement platform (deadline March 31, 2026). Despite these opportunities spanning bond management, custody, liquidity, and underwriting, several posted solicitations (including those for automated transit vehicles and vehicle lease financing) appear tangentially or incorrectly tagged to this code and do not align with core forward-contract or commodity-hedging activity.