kassauppgjöri

Kassauppgjör, which translates to "cash settlement" in English, is a term primarily used in Icelandic financial contexts. It refers to the process of settling financial obligations using actual currency, as opposed to other forms of payment like checks or electronic transfers. This method of transaction involves the physical exchange of money between parties to complete a debt or a purchase.

In certain business transactions and agreements within Iceland, the term kassauppgjör may specifically denote a final settlement where the exact amount due is paid in cash. This can sometimes be relevant in situations where immediate finality is desired or where digital payment infrastructure is less prevalent or preferred. Historically, it was the most common form of payment before the widespread adoption of modern banking and electronic transaction systems.

While less common for large-scale transactions today due to convenience and security concerns associated with handling large sums of cash, kassauppgjör still finds application in specific scenarios. These might include small retail purchases, private sales, or situations where parties explicitly agree upon cash as the mode of settlement. The term emphasizes the direct and tangible nature of the payment being made.