Delivery Instrument
A document that, during the delivery of the futures contract, stands in lieu of the physical asset underlying the contract.
Investopedia Commentary
Delivery instruments can include warehouse receipts, shipping certificates, and vault receipts. These all are more transferable than physical commodities, and provide investors with a more efficient method of settlement.
Related Links
Futures Fundamentals
Interpreting Volume for the Futures Market
Becoming Fluent in Options on Futures
Getting Started in Foreign Exchange Futures
See also: Approved Delivery Facility, Assignable Contract, Cash Settlement, Certificated Stock, Current Delivery, Delivery, Delivery Date, Expiration, Offset, Vault Receipt