Off-board refers to something that is not traded on a major stock market. Instead, it is traded privately or through smaller brokers. This is also known as over-the-counter or OTC. It can also pertain to medication that can be purchased without a doctor’s prescription.
Off-board transactions refer to securities transactions that take place outside of a prominent exchange, such as over-the-counter or between private parties. For instance, if a company’s stock is not listed on a major exchange like the New York Stock Exchange or NASDAQ, it may be traded off-board. In this case, the transaction occurs directly between brokers or dealers, rather than through an organized exchange. It is important to note that off-board transactions are not subject to the same regulations and oversight as those that occur on major exchanges. Consequently, this can make them riskier for investors due to the reduced transparency and information available about the securities being traded. However, off-board transactions can also provide more flexibility and potentially higher returns for those who are willing to accept the additional risk.
Going off-board refers to the process of resolving a legal dispute outside of the traditional court system, typically through alternative dispute resolution methods such as mediation or arbitration.
Yes, going off-board can be legally binding if both parties agree to the terms and conditions of the alternative dispute resolution process and sign a legally enforceable agreement.
Some advantages of going off-board include cost savings, faster resolution, confidentiality, and the ability to have more control over the outcome compared to a court trial.
In most cases, yes. However, certain types of disputes, such as criminal cases or matters involving public policy, may require resolution through the court system.
While it is not mandatory to have a lawyer, it is highly recommended to seek legal advice before entering into any off-board resolution process to ensure your rights and interests are protected.
The ability to appeal an off-board decision depends on the specific terms of the agreement reached during the alternative dispute resolution process. It is important to carefully review the agreement to understand the provisions regarding appeals.
The duration of off-board resolution varies depending on the complexity of the dispute and the willingness of both parties to cooperate. It can range from a few weeks to several months.
If off-board resolution fails, you may still have the option to pursue your case in court, depending on the terms of the agreement reached during the alternative dispute resolution process.
Yes, off-board settlements are typically confidential, meaning the details of the resolution are not made public. This confidentiality can be an advantage for parties who wish to keep their dispute private.
The cost of going off-board varies depending on the specific alternative dispute resolution method chosen and the complexity of the dispute. Generally, it is less expensive than going to court, but the exact cost will depend on the circumstances of each case.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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