The forward price is the agreed upon price of an asset in a forward contract. The difference between the forward and the spot price is the forward premium (if percentage is positive, meaning the forward price is higher than the spot price) or forward discount (if percentage is negative, meaning the forward price is lower then the spot price), generally considered a form of a profit (or loss) by the purchasing party. There is a difference between forward and futures prices when interest rates are stochastic. This difference disappears when interest rates are deterministic.