Series 27: Delivery Vs. Payment

Taken from our Series 27 Online Guide

Delivery vs. Payment

In a broker-dealer credit account, a broker-dealer may conduct a purchase or sale transaction with another broker-dealer under a good faith agreement that the seller will promptly deliver the security against full payment of the purchase price. In other words, a delivery vs. payment transaction ensures that the security will be delivered only when full payment is made.

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