settlement day
Definitions
Accounting
- noun the day on which shares which have been bought must be paid for. On the London stock exchange the account period is three business days from the day of trade.
Economics
- noun in the USA, the day on which securities bought actually become the property of the purchaser
Law
- noun the day when accounts have to be settled
Real Estate
- noun in Scottish conveyancing, the date when the solicitors for the two parties meet, when the purchaser pays and the vendor passes the conveyance and the deeds to the purchaser
