A Forward Exchange Contract

A forward exchange contract

A) gives the owner the right, but not the obligation, to buy a foreign currency at a fixed exchange rate for a fixed period of time.
B) gives the owner the right to purchase a foreign currency at some point in the future and any gains or losses are credited/debited to the account at the close of business each day.
C) requires delivery, at a specified future date, of one currency for a specified amount of another currency.
D) requires delivery, within two working days, of one currency for a specified amount of another currency.