Cash Sale

Cash Sale - A cash sale is a transaction that involves which securities are delivered on a specified trade date, instead of after the required three business days to settle a contractual obligation. The settlement date on a security is established as a date an executed security transaction must be settled, by either purchasing or delivering an asset that has been sold. The settlement date is usually set as three business days after which the trade was executed, or one day if it is a listed option or government security. These dates are obligations and expected to be met on or before.