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 ?
The stress strain curves for NR/RR vulcanizates with various proportion of reclaim rubber and NR/RR (80/20) blend system with different proportion of carbon black loading are shown in Figs.
If New York state or California's CBE are able to squash participation in allowance markets in ways they don't like, or if every trading decision has to be vetted for its possible effects on specific regions or localities, national trading programs, or even multi-county ones like RECLAIM, would be severely hampered.
Also offers recycling extrusion lines for carpet backing, ropes, twine and sack reclaim.
RECLAIM represents a unique partnership between the state juvenile correctional system and local juvenile courts.
Includes granulators, shredders, densifiers, pulverizers, and systems for both in-plant scrap reclaim and post-consumer or post-industrial recycling.
The process works in the following manner: To reclaim a stator pipe, several pieces of pipe are loaded onto one end of the machine (figure 1).
Combined, the cleaning cascade and salt reclaim furnace continuously clean and cool rubber profiles during treatment and return the carried out salt to the curing cycle.
Bill Fell, president of Buddy Bar Casting, said he expects to reclaim virtually 100% of the spent sand from the mold and core processes and reduce sand disposal to a small fraction of the current level.
This amounted to 20,000 metric tons of reclaim consumed by the United States (ref.
Establish a formal program to reclaim vinyl-backed carpet after its useful life, regardless of manufacturer, and pay the customer for it.
Crosslinked gels can come from raw-material contamination or use of too much reclaim.
Low priced crude oil made substitutable virgin rubber and carbon black more cost competitive with reclaim.