Delivery on a Leverage Contract Law and Legal Definition

According to 17 CFR 31.4 [Title 17 -- Commodity and Securities Exchanges; Chapter I -- Commodity Futures Trading Commission; Part 31 -- Leverage Transactions], delivery on a leverage contract means “the making (in the case of an initial sale by a leverage customer) or taking (in the case of an initial purchase by a leverage customer) of delivery by a leverage customer of the commodity subject to a leverage contract.”