renunciation

renunciation1. The surrender to someone else of rights to shares in a rights issue. The person to whom the shares are allotted by allotment letter (seeallotment) fills in the renunciation form (usually attached) in favour of the person to whom the rights are to be renounced. reorder level The number of units of a particular item of stock to which the balance can fall before an order for replenishment is placed. A reorder-level system is a stock-control system based on the principle that orders for the replenishment of items of stock are only placed when the balance of stock for a particular item falls to a predetermined level. The reorder quantity is the quantity ordered to replenish stock when the stock level falls to the reorder level.

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