Which type of contract involves agreements to buy or sell assets at a future date?

The correct answer involves futures contracts, which are agreements to buy or sell an asset at a predetermined future date and price. Futures contracts are standardized and traded on exchanges, providing a mechanism for parties to hedge against price fluctuations or speculate on price movements of assets such as commodities, currencies, or financial instruments.

In a futures contract, both the buyer and seller are obligated to fulfill the contract's terms when it expires, which creates a clear timeline for the transaction, minimizing uncertainty regarding the future price of the asset. This characteristic makes futures contracts particularly valuable for businesses and investors looking to manage risk associated with price volatility in the markets.

While the other types of contracts mentioned also deal with buying and selling assets, they do not share the same characteristics as futures contracts. For example, spot contracts involve immediate buying or selling at current market prices, with no future obligation. Forward contracts are similar to futures in that they also involve agreements to buy or sell at a future date, but they are customized agreements negotiated directly between parties rather than standardized and traded on exchanges. Options contracts provide the right but not the obligation to buy or sell an asset, which differs fundamentally from the obligational nature of futures contracts.