Term:
Fair value - OECD
Definition:
The price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.
Domain:
Finance
Source:
OECD Working Party on Private Pensions, 2005, “'Private Pensions: OECD Classification and Glossary, 2005 edition”, OECD, Paris
