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Cancellation
(redirected from cancelation)

   Also found in: Dictionary/thesaurus, Legal 0.02 sec.
Cancellation
A notice by a broker to a client that the broker has made a mistake and has taken steps to rectify it. For example, if a client makes an order to buy 1,000 shares and the broker mistakenly buys 2,000, he/she must sell the extra 1,000 shares and bear any losses himself/herself. Afterwards, the broker must inform the client of what has transpired and provide full documentation. This ensures that the broker simply made a mistake and was not trading maliciously or improperly.

cancellation
A broker's notice to a customer that an erroneous trade credited to the customer has been voided. For example, if a brokerage firm mistakenly purchases 200 shares of stock for an account when the customer has entered an order for only 100 shares, the firm will send the customer a cancellation for the 200-share trade to void the original confirmation and then will send a new confirmation showing the correct trade.


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The news reports suggested that Turkish defense ministry has sent letters through special channels to Israel saying that it was considering the cancelation of the deal if the defects were not repaired before end of this year.
The cancelation of the contract was done on good term for both parties.
Israel's exclusion from the joint exercise had prompted the United States and Italy to refuse to take part in the exercise and thus to its total cancelation.
 
 
 
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