Glossary of Municipal Securities Terms

RECLAMATION OR RECLAIM

The return by the receiving party of securities previously accepted for delivery. Reclamation may be made by the receiving party or a demand for reclamation may be made by the delivering party if, subsequent to delivery, information is discovered which, if known at the time of delivery, would have caused the delivery not to constitute good delivery. See: GOOD DELIVERY. Compare: REJECTION.

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