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repurchase agreement

noun
1.
a contract between a dealer, as a bank, and an investor, whereby the investor purchases securities with the promise that they will be bought back by the dealer on a designated date, for which the investor receives a fixed return.
2.
a contract between a buyer and a seller whereby the seller agrees to repurchase the item sold after a specified length of time or amount of use.
Abbreviation: RP.
Also called repo.
Origin
1920-1925
1920-25
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for re purchase agreement

repurchase agreement

noun
1.
an agreement in which a security or asset is sold and later repurchased at an agreed price to raise ready money Sometimes shortened to repo
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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