How to Book a Contract

This walkthrough will help you get from start to finish in the contract booking process. If you experience any issues while booking, please contact your account executive(s) at GPS to resolve.

Step 1

Navigate to the Contract tab and select Book New Contract from the drop-down list. There is also a Book New Contract button on the right side as well.

Step 2

Select the button to indicate whether you want to buy or sell the currency that you select in the first drop down menu. (If a currency is not listed, it must be requested via a GPS account executive)

Step 3

Select the currency in exchange for the one that was selected to buy or sell. You can then enter the amount to exchange in the desired field. (If a currency is not listed, it must be requested via a GPS account executive)

Step 4

Select the desired settlement type and bank account to use for the exchange. Then choose the funds delivery option that GPS will use deliver the payment to the beneficiary. Then select when the funds should be delivered (CASH= Same day, Tom=Tomorrow, Spot=2 days out, Forward=Scheduled day passed Spot option). These options may vary depending on your settlement selections. Once the selections have been completed, click Get Rate to continue.

Step 5

FXpert will then obtain a rate and share the details. 30 seconds are provided to accept or cancel the rate created. If time expires, FXpert will be guided back to the previous page. If this happens, click Get Rate again to obtain a new rate. Once an acceptable rate is provided, click Accept Rate to proceed.

Step 6

Once the trade is booked, instructions need to be attach to the contract. Instructions are beneficiaries selected to receive the payment. If instructions have already been created previously, they may be selected from the drop down list. If there are no existing instructions, one can be create by selecting New Template from the dropdown list. This will provide a form to complete with required information for the beneficiary to create the instruction.

Step 7

If there are additional instructions desired for the contract, they can be added at the bottom of the page. Once they've been selected and/or updated, click Attach Instructions.

Step 8

Once the instructions have been attached to the contract, FXpert will be guide back to the home page. At this point, navigate to the Action Items tab to ensure that the instructions or beneficiaries are approved. If they are not approved, use the Instructions Approval and/or Beneficiary Approval tabs to find the desired instruction or template (beneficiary) and click Approve to complete the process. A dual-approval may be needed. To verify that they are setup correctly, click the arrow dropdown on the left to see the details. If the incorrect beneficiary was selected, click Delete Instruction to remove it.

(If instructions are deleted, this will not void the contract. This will only remove the beneficiary as an instruction.) 

Step 9

The contract has been booked and completed. Now it's time to book another one or get back to the rest of the day. 

If you experience any issues with this process, please reach out to your Account Executive(s), Client Experience or contact mysupport@gpsfx.com .