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 in public auction to export 25,000 tons, plus/ minus 10 % at sellers option, of alcohol of not less than 95 % purity of the 2012 season for delivery in bulk FOB at Damietta port for shipment during the period March to July 2012.
Tenders are invited for sale of imported (toor whole), faq at sellers option lying at cwc madhavaram and imported (urad whole), faq at sellers option lying atncml (m.
Request of best offers and proposals in a public auction for the export of 10,000 tons, plus/ minus 10 % at sellers option, of cane molasses of 2011 production for delivery FOB in bulk at Alexandria Port during December 2011.
Request of best offers & proposals for the export of 34,000 tons, plus/ minus 10 % at sellers option, of sugar beat residuals of the 2011 season.