In business and contract law, a forward-forward agreement (FFA) is a form of forward rate agreement in which party A agrees to lend party B the m<sub>1</sub> amount of money, at future time t<sub>1</sub>. In return, B will pay to A a larger monetary amount m<sub>2</sub> at time t<sub>2</sub> > t<sub>1</sub>. The name "forward-forward agreement" derives from the fact that both issuing and repayment of the loan take place in the future. A regular forward rate agreement lends the money at once. A quoted forward rate is associated with every forward-forward agreement. This can be thought of as the interest rate earned by party A for lending the money to B.