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 ?
Reclamation has been delivering reliable, low-cost hydropower throughout the West for more than a century.
Development scientists have warned of poor adaptive capacities in communities displaced from reclamation sites and forced into unfamiliar territory, which often leads to violence and crime.
During a recent hearing at the House of Representatives, lawmakers also raised a howl over the many reclamation projects in the country, citing environmental issues.
Reclamation will speed up the sinking of the land, either from the withdrawal of groundwater, or from the added weight of buildings, or both," Arenas said.
'If President Duterte is against environmental destruction, he can start by ordering the ban on land reclamation,' he added.
State law and your company's customary shipment terms will determine whether a given shipment falls within the 10 day reclamation period.
(We have seen this happen on Roxas Boulevard, while the reclamation of Dagat-dagatan has caused intermittent flooding in Navotas, Malabon, Valenzuela, Caloocan and Obando.) Storm surges and storm waves riding on these surges wreak much havoc, but reclamation proponents do not show how the affected areas will be protected against these dangers.
The dam, which is owned by Reclamation and operated by the Uintah Water Conservancy District, provides off-stream water storage from Ashley Creek and is an important feature of the Central Utah Project.
But that's just one project; some 22 other Manila Bay reclamation ventures are pending before the PRA, revealed Joseph Literal, PRA assistant general manager, at a hearing on Manila Bay's rehabilitation at the House of Representatives on Monday.
Gonzales stated that sand can be used for reclamation if properly compacted.
If a cooperative agreement is awarded, the recipient should expect Reclamation to have substantial involvement in the project.
(the Company) received on Saturday, September 9, 2017, the Nevada Excellence in Mine Reclamation Award.