seller's option contract

(redirected from Sellers' Option)

Seller's Option Contract

A contract between a buyer and a seller where the seller has the ability to delay settlement of the contract beyond the normal time. A seller may exercise this option if he/she has difficulty in making delivery on the contract for any reason at all. The farthest possible settlement date is stated in the seller's option contract. This contrasts with a cash contract, where settlement is made before the regular settlement date.

seller's option contract

A security transaction in which the date of settlement is delayed beyond the five business days in a regular-way contract. This very unusual transaction is generally caused by the unavailability of a certificate for regular delivery. The settlement date will be specified. See also cash contract.
References in periodicals archive ?
5 million, payable in cash or, at the sellers' option, units of limited partnership interest in AIMCO OP ("OP Units".
The acquisition is subject to certain terms and conditions, including the approval of the Michigan Racing Commission and the sellers' option to reduce JRI's interest to 80% under certain circumstances, which are included in a Current Report on Form 8-K and the exhibits thereto being filed today by MTR with the SEC.
Due to the strength of New York City's market and the large sales consummated daily, many sellers' options to utilize tax-advantaged exchanges has made the Capital District a much more attractive alternative for Manhattan-based investors looking for higher rates of return on their investments," said Anton.