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 primary reason is that companies must begin their management of acid-generating tailings from the start, but a sound-proof method for controlling acidic seepage, following the reclamation of tailings, has yet to be developed.
The joint communique of Asean foreign ministers released on August 6 criticized China's continued land reclamation in the disputed sea.
DOGAMI's Mineral Land Regulation & Reclamation program oversees nearly 900 permits statewide.
They cited a study by marine biologists from the University of the Philippines showing that the reclamation project would likely affect the current and tide movement in the area and may cause further sand erosion in Boracay.
In addition to the 2017 reclamation award, Cloud Peak Energy's Antelope and Cordero Rojo mines were also partners in the 2017 OSM Good Neighbor Award presented to the Thunder Basin Grasslands Prairie Ecosystem Association for the collaborative effort among colleagues (within and among mines), neighbors, lessees, government agencies and local agricultural producers to implement coordinated conservation projects that reach beyond permit obligations to positively impact regional conservation efforts and land management decisions.
Among the approved reclamation projects in Manila Bay are the extension of the Manila Harbour Center, involving 50 hectares of fishing waters; the Las Pinas-Paranaque Critical Habitat Ecotourism Area, 1,600 hectares; the 1,435-hectare Las Pinas-Bacoor Road Widening Project; the 419-hectare Horizon Manila Project; and the 650-hectare Navotas Boulevard Business Park.
Bankruptcy Code Section 546(c) recognizes a creditors reclamation rights under state law.
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.
Meanwhile, Manama Municipal Council vice-chairman Mohammed Mansoor said municipal police could not stop illegal reclamation.
They also demanded the Municipalities and Urban Planning Affairs Ministry took action against VIPs allegedly responsible for the reclamation, claiming they had committed legal, technical and environmental violations.
The Rosemont reclamation plan calls for reclamation to commence after the first year of production and continue concurrently throughout the life of the project.
has been named a winner of the 2008 BLM Reclamation and Sustainable Mineral Development Awards.