OAC Definition

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OAC is On Approved Credit.

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OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

OPTION is the formal reservation of the right to buy or sell property / assets at a certain price and / or within a given time in the future, e.g. a contract allowing, but not requiring, the holder to buy (call) or sell (put) a specific security at a specified price during a specified time period or on a specified date. Options may trade on exchanges or over­the-counter.

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