The re-board operations take place in three forms: indicated delivery, tri-party and detention (where the „selling“ party maintains the guarantee during the life of the pension). The third form (Hold-in-custody) is quite rare, especially in development-oriented markets, due in part to the risk that the seller may intervene before the transaction is completed and that the buyer will not be able to recover the guarantees issued as collateral for the transaction. The first form – the indicated delivery – requires the delivery of a predetermined loan at the beginning and maturity of the contract. Tri-Party is essentially a form of trading basket and allows a wider range of instruments in the basket or pool. In the case of a tripartite repurchase transaction, a third-party agent or bank is placed between the „seller“ and the buyer. The third party retains control of the securities that are the subject of the agreement and processes payments made by the „seller“ to the buyer. Deposits are traditionally used as a form of secured loan and have been treated as such tax-wise. However, modern repurchase agreements often allow the lender to sell the collateral provided as collateral and replace an identical guarantee when buying back.  In this way, the lender will act as a borrower of securities, and the repurchase agreement can be used to take a short position in the guarantee, as could a securities loan be used.  Since triparti agents manage the equivalent of hundreds of billions of dollars in global guarantees, they have the scale to subscribe to multiple data streams to maximize the coverage universe. As part of a tripartite agreement, the three parties to the agreement, tripartite representatives, collateral/cash suppliers („CAP“) buyers and repo sellers („COP“) agree on a protection management agreement, including a „legitimate collateral profile.“ Although the transaction is similar to a loan and its economic effect is similar to a loan, the terminology is different from that of the loans: the seller legally buys the securities from the buyer at the end of the loan period. However, an essential aspect of rest is that they are legally recognized as a single transaction (important in the event of a counterparty`s insolvency) and not as a transfer and redemption for tax purposes.
By structuring the transaction as a sale, a repo offers lenders considerable protection against the normal functioning of the United States.