Then you have to sue this guy and it's a big mess.

于是你必须和他打官司这是个大麻烦
The problem with forward contracts is that they're not standardized;

远期合约的一个问题就是没有标准
you're not dealing with a reputable exchange.

交易的信誉难以保障
With an exchange, there is of course a counter party.

而在交易所当然会有交易对方
If you're selling rice and someone else is buying it,

如果你正卖大米且有人正买
there's an intermediary between you and that's the exchange.

买卖双方间会有中间人这就是交易所
Since the exchange will honor any contract,

由于交易所会遵守所有的合同
you don't have to worry about the other side.

你不必担心另一方的毁约
That's another reason why futures prices are so much more meaningful

相比现货市场的价格期货市场的价格
than spot or forward prices

更加合理这也是另一方面的原因
because there's no counter-party risk

因为期货市场不存在对手方风险
unless you worry about the exchange itself.

除非你担心交易所本身存在风险