A customized contract between two parties, where settlement takes place on a specific date in future at a price agreed today is called

A customized contract between two parties, where settlement takes place on a specific date in future at a price agreed today is called ___?
[A]Future contracts
[B]Forward contracts
[C]Option contracts
[D]Warrant contracts

Forward contracts
A forward contract is a customized contract between two parties, where settlement takes place on a specific date in future at a price agreed today.

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