Overnight Delivery Risk

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Overnight delivery risk

A risk brought about because differences in time zones between settlement centers require that payment or delivery on one side of a transaction be made without knowing until the next day whether the funds have been received in an account on the other side. Particularly apparent when delivery takes place in Europe for payment in dollars in New York.

The risk that a difference in time zone will delay a payment from being made. Because different time zones have business days that do not overlap (for example, offices Seattle and Dubai are almost never open for business at the same time), one party may not know that a delivery or payment has not been made during the time when he/she would be able to do the most about it. As a result, one party may not know whether the other has fulfilled his/her obligations until the next business day.

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