Forwards             Futures

Contract Terms     ........             ........
Delivery           ........             ........
Trading            ........             ........
Margins            ........             ........
Credit Risk        ........             ........
Liquidity          ........             ........
Cash Flow          ........             ........

Are the terms of a forward contract:

a) standard for every contract?
b) particular to each individual contract and variable from contract to contract?

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