transaction requiring that goods be paid for in full by cash or certified check or the equivalent at the point of delivery. The term collect on delivery has the same abbreviation and same meaning.
Commerce: transaction requiring that goods be paid for in full by cash or certified check or the equivalent at the point of delivery. The term collect on delivery has the same abbreviation and same meaning. If the customer refuses delivery, the seller has round-trip shipping costs to absorb or other, perhaps riskier, arrangements to make.
Securities: a requirement that delivery of securities to institutional investors be in exchange for assets of equal value-which, as a practical matter, means cash. Alternatively called delivery against cost (DAC) or delivery versus payment (DVP). On the other side of the trade, the term is receive versus payment.
