Business and Personal Finance Dictionary

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• DELIVERY
  
  Delivery generally refers to the change of owner-ship or control of a commodity under specific terms and procedures established by the Exchange upon which the contract is traded. Typically, except for energy, the commodity must be placed in an approved warehouse, depository, or other storage facility, and be inspected by approved personnel, after which the facility issues a warehouse receipt, shipping certificate, demand certificate, or due bill, which becomes a transferable delivery instrument. Delivery of the instrument usually is pre-ceded by a notice of intention to deliver.
  
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