This most likely refers to reservations for future (forward) services:
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This contract covers costs you incur on non-cancellable forward bookings, specifically your buyers inability to pay for their contractual obligations in regard to the forward booking of media or advertising space that was placed via you, insofar as this inability results directly and solely from the insolvency of your buyer.

In respect of forward bookings of media or advertising space: if the insolvency occurs before the non-cancellable period you must cancel the bookings. We will have no liability for the costs of forward bookings that were not non-cancellable

For forward bookings of media or advertising space we will maintain cover for the noncancellable period, subject to the conditions specified in this module, provided that the value of such non-cancellable bookings have been declared to us together with the declaration of turnover /billings within thirty days of the end of the contract period.

and costs of non-cancellable forward bookings of media or
advertising space), as soon as the loss is ascertained;

The costs mentioned in article 1 above, after deduction of the value of services,
(forward bookings of media or advertising space, equipment and, if applicable, goods) already billed.

https://www.creditinsurancedirect.co.uk/assets/advertising-a...

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Note added at 32 mins (2018-05-08 14:41:26 GMT)
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future transaction/forward transaction transakcja terminowa
Creator: Marlena Dobosz
https://www.proz.com/personal-glossaries/entry/17629388-futu...

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Polish term or phrase: terminowe operacje finansowe
English translation: (financial) forward (and futures) transactions
Entered by: aniakucharska
https://www.proz.com/kudoz/polish_to_english/business_commer...


Polish term or phrase: transakcja terminowa na stope procentowa
English translation: forward rate agreement
https://www.proz.com/kudoz/polish_to_english/finance_general...

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Note added at 33 mins (2018-05-08 14:43:02 GMT)
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In finance, a futures contract (more colloquially, futures) is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future. The asset transacted is usually a commodity or financial instrument. The predetermined price the parties agree to buy and sell the asset for is known as the forward price. The specified time in the future—which is when delivery and payment occur—is known as the delivery date. Because it is a function of an underlying asset, a futures contract is a derivative product.
https://en.wikipedia.org/wiki/Futures_contract