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 ?
Asia Pacific is the leading region in the reclaimed rubber market as a result of increasing production of automobiles coupled with growing population and improving living standard.
Lim confirmed that they planned a mixed-development model for the reclaimed land.
Reclaim was evaluated as a 10 phr, 20 phr, 30 phr and 50 phr replacement for a 40 durometer silicone base.
Reused building material businesses have grown rapidly over the last 20 years, and many of these businesses sell lumber reclaimed from the deconstruction (or dismantlement) of wood-framed buildings.
The physico-mechanical properties of the Natural Rubber/Carbon Black and Reclaim Rubber (NR/CB/RR) vulcanizates are shown in Fig.
Because reclaim rubber contains crosslinked gel, when this is blended with virgin rubber much gel remains as such without dispersing as a continuous matrix with virgin rubber.
Currently, during the worst budget times DYS has experienced since its creation, RECLAIM, like all other agency activities, is being scrutinized and modifications are being made.
Vincent St Claire, KeyFleets managing director, says: "Companies that reimburse their drivers after they fill up at petrol stations will not be able to reclaim the VAT on these purchases if our tax rules change.
The tower water makeup system in One Federal Street is the major user of reclaim water.
Ideal for reducing your environmental impact without having to compromise on style, reclaimed furniture comes in all shapes and sizes, allowing it to add an authentic feel to any room.
Incorporating reclaimed woods throughout your home is a great way to inject character - the Little Tree Reclaimed Wood Trunk Coffee Table, is the perfect example of this.
Rodante Marcoleta said the Philippine Reclamation Authority (PRA) violated the 1987 Constitution when it sold the reclaimed land to Manila Bay Development Corp.