courts may soon be following fit. A lot of CDSs are documented using basic types drafted by the International Swaps and Derivatives Association (ISDA), although there are lots of variations. In addition to the basic, single-name swaps, there are basket default swaps (BDSs), index CDSs, moneyed CDSs (also called credit-linked notes), along with loan-only credit default swaps (LCDS).Some claim that derivatives such as CDS are potentially hazardous because they combine top priority in bankruptcy with an absence of transparency (what is derivative in finance). A CDS can be unsecured (without collateral) and be at greater danger for a default. In finance, a forward agreement or simply a forward is a non-standardized contract between two parties to buy or to sell a property at a given future time at an amount concurred upon today, making it a type of derivative instrument.