Jargon beginning with: o

OECD: The Organisation for Economic Co-operation and Development.

OEIC: Open-ended investment company - a form of mutual or collective investment fund or scheme

On Board: Notation appearing on a Bill of Lading indicating that a cargo has been loaded on board the vessel.

Open Account: Terms of trade usually involving invoicing but no additional security for payment. Typically between longstanding counterparties.

Opening Bank: A bank which issues a Letter of Credit on behalf of a customer or Applicant. Also known as the Issuing Bank.

Opinion: Colloquial term for "legal opinion".

OTC: Over-The-Counter.

Outs / Out Countries: The 4 EU countries which were not included in the EMU area in the first round of membership in May 1998. They are Denmark, Greece, Sweden and the UK.