Seller's option


Also found in: Financial, Acronyms.
an option allowed to one who contracts to deliver stock art a certain price on a certain future date, to deliver it (giving one day's notice) at any previous time at the market price. Such options are privileges for which a consideration is paid.

See also: Option

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References in periodicals archive ?
Aron exercised their seller's option to supply Oman - in place of Dubai - into several Dubai-related contracts.
1st DCA, April 6, 2004), and its default clause reads as follows: "If BUYER fails to perform this contract within the time specified, the deposit paid by BUYER may be retained by or for the account of SELLER as agreed upon liquidated damages, consideration for the execution of this contract and in full settlement of any claims; whereupon BUYER and SELLER shall be relieved of all obligations trader contract; OR SELLER at SELLER's option, may proceed to enforce SELLER's rights under this contract.
Consumers who prefer to return the product(s) to the place of purchase should have proof of purchase and either return the product to the store where purchased or contact the seller if a catalogue or on-line purchase to make return arrangements and receive either a refund or credit at the seller's option.