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delivery notice

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Delivery Notice
A notice written by the holder of the short position in a futures contract informing the clearing house of the intent and details of delivering a commodity for settlement.

Notes:
The delivery notice is important for both the short and long positions of a futures contract. As some contracts allow a range for the basis grade of underlying commodities, the grade in the delivery notice must be properly identified. This notice provides for a clear written contract describing the specifics for such a delivery.

Delivery notice
The written notice given by the seller of its intention to make delivery against an open, short futures position on a particular date. Related: Notice day.
delivery notice
In futures trading, a notice that the party having sold (short) a contract intends to make delivery of the commodity in settlement of its terms. The quantity, quality, and point of delivery are designated by the exchange. Also called transfer notice.
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