job lot
Definition of job lot
1 : a miscellaneous collection of goods for sale as a lot usually to a retailer
2 : a miscellaneous and usually inferior collection or group
Explore Merriam-Webster
Examples of job lot in a Sentence
The warehouse bought the pieces as a job lot.
First Known Use of job lot
1828
Financial Definition of JOB LOT
job lot
What It Is
A job lot is a commodities futures contract where the underlying commodity is denominated in smaller amounts than a regular futures contract.
How It Works
Commodity futures contracts are agreements between a buyer and a seller to deliver a specific amount of a commodity (for example, precious metals, oil, corn, etc.) on a future date at a predetermined price. The denomination amounts are typically very large. Job lots are contracts denominated in smaller amounts, making them accessible to more investors.
For example, a gold futures contract may be issued in denominations of 10 troy ounces. This means that larger contracts increase incrementally to 20, 30, and 40 troy ounces. By contrast, a job lot for gold might be issued in two ounce denominations. This means that the underlying quantity of a gold job lot would rise incrementally to four, and six troy ounces.
Why It Matters
By offering smaller commodity stakes, job lots give investors with less investment capital an opportunity to invest in the commodity futures market.
JOB LOT Defined for English Language Learners
job lot
Definition of job lot for English Language Learners
-
: a collection of goods that are being sold as a group
Learn More about job lot
Seen and Heard
What made you want to look up job lot? Please tell us where you read or heard it (including the quote, if possible).
Writing? Check your grammar now!