An Order authorizing redemption is a legal document that authorizes a specific entity to redeem a particular financial instrument, such as bonds, stocks, or mutual funds. This document serves as a written authorization to the specified entity to cash in the financial instrument and transfer the proceeds to the issuer or holder of the instrument. There are three main types of Order authorizing redemption: a call option, a put option, and a redemption request. A call option is an Order authorizing redemption that allows the issuer to redeem the financial instrument at a specified price. The issuer of the call option is obligated to redeem the instrument at the stated price, and the holder of the call option can exercise the option at any time prior to its expiration date. A put option is an Order authorizing redemption that allows the holder to redeem the financial instrument at a specified price. The holder of the put option has the right to redeem the instrument at the stated price, and the issuer of the put option can exercise the option at any time prior to its expiration date. A redemption request is an Order authorizing redemption that allows the issuer to request redemption of the financial instrument at a specified price. The issuer of the redemption request has the right to redeem the instrument at the stated price, and the holder of the redemption request can exercise the option at any time prior to its expiration date.