A forward contract is an agreement between two parties to buy or sell an asset at a specified future date for a price that is agreed upon today. This type of derivative is commonly used to hedge against price fluctuations in various asset classes including commodities, currencies, and financial instruments.

Suppose an investor enters into a forward contract to buy 100 barrels of crude oil at a price of $50 per barrel, with delivery scheduled for six months in the future. The current market price of crude oil is $48 per barrel.

What is the main characteristic of the forward contract in this scenario?