approved delivery facility

Definition of "approved delivery facility"
  1. A place, such as a bank or warehouse, authorized by a commodities exchange to receive commodities delivered on futures contracts
How to use "approved delivery facility" in a sentence
  1. The grain elevator was designated as an approved delivery facility by the commodities exchange.
  2. The futures contract specified an approved delivery facility for the delivery of the corn.
  3. Because the storehouse was an approved delivery facility, it received the oil delivered on the futures contract.

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