Backwardation n. : The seller's postponement of delivery of stock or shares, with the consent of the buyer, upon payment of a premium to the latter; -- also, the premium so paid. See Contango.

Example:
Why is a market in contango when prices are falling and Backwardation when they are rising?

Taxonomy
backwardation, stock, Contango, LME, silver, fee, free encyclopedia, commodities, spot price, London Stock Exchange, the London, tom, lease rates, London Metal Exchange, derivatives, forward price, gold futures, Occurrence.

Defination from the web:
backwardation starts when the difference between the forward price and the spot price is less than the cost of carry, or when there can be no ... Backwardation very seldom arises in money commodities like gold or silver. ...