Future

{
  "id": "MLC-T-INS-003658",
  "term": "Future",
  "field": "Insurance and risk management",
  "definition": "A standardized legal contract to buy or sell something at a predetermined price at a specified time in the future. These contracts are used in financial markets to hedge against price fluctuations or for speculative purposes. In risk management, futures contracts can be employed to mitigate commodity price risk or interest rate risk.",
  "url": "https://mlchart.com/terminology/insurance/future/"
}