The delivery notice is important for both the short and long positions of a futures contract. As some contracts allow a range for the basis grade of underlying commodities, the grade in the delivery notice must be properly identified. This notice provides for a clear written contract describing the specifics for such a delivery.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
delivery notice — Notification of delivery by the clearinghouse to the buyer. Such notice is initiated by the seller in the form of a Notice of Intention to Deliver. The CENTER ONLINE Futures Glossary The written notice given by the seller of its intention to make … Financial and business terms
Delivery notice — The written notice given by the seller of his intention to make delivery against an open, short futures position on a particular date. Related: notice day … Financial and business terms
notice day — According to Chicago Board of Trade rules, the second day of the three day delivery process when the clearing corporation matches the buyer with the oldest reported long position to the delivering seller and notifies both parties. See First… … Financial and business terms
Delivery Option — A feature added to some futures contracts permitting the short position to determine the combination of timing, location, quantity, and quality of the underlying commodity stated in the delivery notice. A delivery option provides a great deal of… … Investment dictionary
Notice day — A day on which notices of intent to deliver pertaining to a specified delivery month may be issued. Related: delivery notice. The New York Times Financial Glossary … Financial and business terms
delivery day — The third day in the delivery process at the Chicago Board of Trade, when the buyer s clearing firm presents the delivery notice with a certified check for the amount due at the office of the seller s clearing firm. Chicago Board of Trade… … Financial and business terms
notice — no·tice 1 n 1 a: a notification or communication of a fact, claim, demand, or proceeding see also process, service ◇ The requirements of when, how, and what notice must be given to a person are often prescribed by a statute, rule, or contract. b … Law dictionary
delivery — de·liv·ery n pl er·ies: an act that shows a transferor s intent to make a transfer of property (as a gift); esp: the transfer of possession or exclusive control of property to another actual delivery: a delivery (as by hand or shipment) of actual … Law dictionary
notice to quit — n. Notice given by a tenant informing the landlord that the tenant intends to move out; also, notice given by a landlord informing the tenant that he or she must move out. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks … Law dictionary
Notice of Hearing — A Notice of Hearing is a prepared legal document that invokes all parties to hear a motion and may be emitted by any party. Most notably the notice contains a time and date for the court clerk to amend schedule for and what motion will be… … Wikipedia