Abstract: A contract management system is disclosed for managing a contract between a supplier and a purchaser, the system comprising a stage payment management unit for receiving contract information from a supplier terminal and creating a payment schedule and an interface unit for providing a communication interface between the contract management system, the supplier terminal and a purchaser terminal. The system also includes a foreign exchange pricing engine for receiving a request from the purchaser via the communication interface for an exchange rate for making one of the payments in a second currency, retrieving a current exchange rate between the second and first currencies from a exchange rate database and notifying the purchaser of the exchange rate via the communication interface. A foreign exchange hedging engine is also provided, for purchasing an amount of the first currency corresponding to the payment based on the exchange rate.