Reconciliation (United States Congress) Reconciliation is a legislative process of the United States Congress that allows expedited passage of certain budgetary legislation on spending, revenues, and the federal debt limit with a simple majority vote in both the House (218 votes) and Senate (51 votes).
surrender - Legal Definition n Delivery into the possession of another, such as vacating of property by the tenant before the lease has terminated so that the landlord may consider termination to have occurred; the giving up of a claim or a right; yielding to the control or power of another; the return of an estate to the one who has a reversion so as to merge the estate into a larger one.
DEFINITION of 'Surrender Charge'. A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books.EFINITION of 'Surrender Charge'. A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books.