retender

retender
The right of a futures contract holder, who has received a notice of intention to deliver from the clearinghouse, to offer the notice for sale on the open market, thus offsetting his obligation to take delivery under the contract. This opportunity is only available for some commodities and only within a certain period of time. The CENTER ONLINE Futures Glossary
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An act that an assigned long may perform to avoid obligation to receive delivery of live cattle. To avoid obligation, the assigned long must establish a short position on the business day following assignment and pay a retender fee. Chicago Mercantile Exchange Glossary

Financial and business terms. 2012.

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