repurchase agreement

noun

1. a contract between a dealer, as a bank, and an investor, whereby the investor purchases securities with the promise that they will be bought back by the dealer on a designated date, for which the investor receives a fixed return.
2. a contract between a buyer and a seller whereby the seller agrees to repurchase the item sold after a specified length of time or amount of use. Abbreviation: RP

noun

1. an agreement in which a security or asset is sold and later repurchased at an agreed price to raise ready moneySometimes shortened to: repo