reclamation


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Reclamation

A claim for the right to return or the right to demand the return of a security that has been previously accepted as a result of bad delivery or other irregularities in the delivery and settlement process.

Reclamation

1. The right of a seller to repossess property from a buyer when the buyer does not pay. For example, if someone buys 100 widgets on credit and does not make payments according to the agreed-upon arrangement, the seller has the right to reclaim the widgets and assume ownership once again. A major example of reclamation is foreclosure.

2. The right of a buyer to collect the money paid on a purchase that was not delivered or not delivered according to expectations. For example, if a buyer pays in advance for the purchase of 100 widgets and the seller instead delivers 100 whatsits, the buyer generally has a right to be reimbursed.

reclamation

The recovery of losses by either party in a securities transaction in which there has been a bad delivery.

reclamation

(1) The process of converting unusable lands to beneficial use,such as reclamation of strip mine sites,swamps,and gullies.(2) A bankruptcy remedy allowing a vendor who sold goods on credit to one who filed bankruptcy shortly afterward to reclaim those goods and obtain their return from the bankrupt buyer, but only if the buyer was insolvent at the time of receipt and the seller makes demand for reclamation within 10 days of the buyer's receipt.

References in periodicals archive ?
A banquet will feature the presentation of the Tom Peters Mine Reclamation Awards, which includes recognition for a company doing outstanding work in mine reclamation, and a $5,000 scholarship for a university graduate student, who must deliver a presentation on his/her research topic.
The area formed via reclamation will accommodate industrial bases such as the base for ship building and repair, the base for metal processing and the base for oil drilling machinery.
Meanwhile, Manama Municipal Council vice-chairman Mohammed Mansoor said municipal police could not stop illegal reclamation.
In collaboration with NRCS, Reclamation selected the five project locations for funding totaling $2.
Councillors were shown pictures of building refuse and garbage being used for reclamation during the meeting.
She adds that the system will accommodate the commercial and municipal reclamation needs of communities in a 150-square-mile radius.
Environmentalists and others were upset that they were kept out of the talks, which involved only officials with the Bureau of Reclamation, Department of Water Resources, the MWD and other big water agencies.
At last count, there were more than 200 brokers overall, each offering different kinds of address reclamation services to a variety of industries.
The County Sanitary Districts of Los Angeles County conducted a study of the health impact of drinking reclaimed water from the Whittier Narrows Water Reclamation Plant, which has been used to recharge an aquifer in the Montebello Forebay area since 1962--a project similar to the proposed Los Angeles project.
The ministry also aims to make public hearings obligatory in the process of screening applications for reclamation projects, the officials said.
The idea that the federal government is exempt from the laws of both physics and economics is not a recent innovation, and by the end of the 19th century both political parties enthusiastically adopted the idea of a big reclamation program for the West.
NEW FINDINGS ARE SHOWING THAT MINELAND RECLAMATION TAILORED FOR COMMERCIAL FORESTS IS BEST FOR THE LAND, THE OWNERS, AND SOCIETY IN GENERAL.