In a commodity market, delivery is the key to trading. Without delivery, no transaction is complete.

A delivery takes place when a commodity is actually tendered or received. In case of agricultural commodities that are traded on futures exchange, the delivery could also mean delivering or receiving the warehouse receipts. In some case where settlements are done through cash, the receipt of money instead of goods is termed as delivery.

Delivery can take place in spot, forward, futures and options markets. Delivery has specific deadlines and related time periods. This means delivery of a commodity before the due date.

Delivery date is the specified date of a month on which a commodity has to be delivered. Delivery month is the month during which the commodity has to be tendered or delivered to the stakeholder.

Delivery notice is a written notice given by the seller making his intentions clear to deliver the commodity against an open short futures position on a particular date. This notice, delivered through the clearing organisation, is separate and distinct from the warehouse receipt or other instrument that is used to transfer title.

Deliverable supply is the quantity of the commodity that is delivered meeting the specifications of the contract.

There are also current and nearby deliveries. A commodity tendered in the present month is current delivery and tendering it during the nearest traded month is nearby delivery.

A provision in a futures contract that gives a person who goes short some flexibility with regard to timing, location, quality or quantity in the process of delivery a commodity is delivery option.

The location a commodity exchange designates for delivery of goods is the delivery point and the price fixed by the authority authorised to clear delivery in a futures contract is delivery price. This is generally the rate at which a settlement in a futures contract is made. This is also called the invoice price.

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