delivery versus payment

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Related to cods: coda, codfish, cos, Docs, Colds

Delivery versus payment

A in which the buyer's payment for securities is due at transaction the time of delivery (usually to a bank acting as agent for the buyer) upon receipt of the securities. The payment may be made by bank wire, check, or direct credit to an account.

Delivery versus Payment

A settlement procedure in which the buyer and the seller of a security agree that the seller will pay the buyer upon the security's delivery to the seller. This agreement is designed to reduce risk to both parties: if the delivery and payment do not occur at the same time there is a risk, however small, of theft by one party or the other. It is more commonly known as cash on delivery.

delivery versus payment (DVP)

A settlement procedure in which a customer instructs that he or she will make immediate payment upon delivery of the purchased security. Also called cash on delivery. Compare receive versus payment.
References in classic literature ?
I had always fancied," the Baron faltered, "that cod were salt-water fish?
He believed in one Cod, and one heaven; and when the strong feeling excited by the leave-taking of his old companion, which was exhibited by the powerful working of every muscle in his weather-beaten face, suffered him to speak, he replied:
Penn and Manuel stood knee-deep among cod in the pen, flourishing drawn knives.
Rather odd to enter a drawing-room carrying a large luminous cod," continued the stranger, in his listless way.
The German airship was fish-shaped, with a blunted head; the Asiatic airship was also fish-shaped, but not so much on the lines of a cod or goby as of a ray or sole.
I know the navigation from the Cod Banks right up to Montreal a great deal better than I know the streets of London.