seller's option contract

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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 ?
Request of best offers and proposals to sell locally 20,000 tons of cane molasses plus/ minus 10 % at sellers' option for export of 2014 season production for shipment in four lots during the period June/ July 2014.
Request of best offers and proposals to sell locally 21,000 tons of cane molasses plus/ minus 10 % at sellers' option on the local market of 2014 season production for shipment in five lots during the period May/ December 2014.
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.
Request of best offers & proposals in a public auction to export 15,000 tons alcohol (96% purity) of the 2013 production plus/ minus 10% at sellers' option - for delivery FOB in bulk at Damietta Port & for shipment during the period June/ September 2013.
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.