Deliver can mean them sticking a Fedex Home Delivery label or some other courier on it and shipping it to you.

I don't know that they are obligated to get them to you (though I've never had one not offer), and some airlines have exceptions as to when they will return it to you, for example:

Will my baggage be delivered to my home/hotel?
Yes, unless you checked your baggage in late or you chose to take a flight other than the one on which your baggage had been tagged. A Customer Service
Agent can explain these situations in more detail.