re-purchase agreement

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:
1920–25

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
repurchase agreement
 
n
Sometimes shortened to: repo an agreement in which a security or asset is sold and later repurchased at an agreed price to raise ready money

Collins English Dictionary - Complete & Unabridged 10th Edition
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