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 ?
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.
Limited exclusivity -- To prevent unnecessary limitation of sellers' options, names are subject to exclusivity restrictions only while being actively marketed for a specific event.