noun
redemption
Obtaining value or ownership by settling a claim.
Redemption of the gift token gets the customer a mug.
Etymology
The Latin noun directly names buying back. The financial sense preserves recovery through payment or settlement of the relevant claim.
In context
we ought to give criminals a shot at rehabilitation and redemption but primarily because it's in our interest as a society
More examples
- The rewards program allows redemption of points for hotel stays.
- Redemption of the pawned watch requires repayment of the loan.
- The bank processes hundreds of bond redemptions each week.
Forms
redemption · redemptions
redeem verb — Exchange for value or buy back.
redeemable adjective — Able to be exchanged for value.
Similar words
- exchange
- Exchange covers general trading, not necessarily an existing claim.
- repayment
- Repayment settles a debt but need not recover property.
- repurchase
- Repurchase specifically means buying something back, usually for money.