A more thorough explanation:

A time-bargain is a type of futures contract. It is an agreement to buy or sell a standardized asset, such as a commodity, stock, or foreign currency, at a fixed price at a future time, usually during a particular time of a month. These contracts are traded on exchanges like the Chicago Board of Trade or the Chicago Mercantile Exchange.

For example, let's say a farmer wants to sell their crop of wheat at a fixed price in six months. They can enter into a time-bargain with a buyer, agreeing to sell the wheat at a fixed price at a future time. This helps the farmer to lock in a price for their crop, even if the market price of wheat drops in the meantime.

Another example is a company that wants to buy a certain amount of foreign currency in six months to pay for imports. They can enter into a time-bargain with a seller, agreeing to buy the currency at a fixed price at a future time. This helps the company to avoid fluctuations in the exchange rate that could make their imports more expensive.

Overall, time-bargains are useful for managing risk and uncertainty in business transactions involving standardized assets.