26be53da__Contracts___TheFinanceConcept__Future_Contracts
[Sr. No.] 8 [Forward contracts] Both parties have direct contract between them, and payments are also handled by them independently as per there own terms and conditions. [Future Contracts] 
Parties have indirect contracts between them, as exchange write a contract in between both parties. The exchange collect the payment from one party and transfer to other party.
Difference between Forward Contracts and Future Contracts - TheFinanceConcept
Future Contracts