A system and methodology facilitates conveyance of a tool, e.g. a downhole completion or completion component, via a tool string. The tool string comprises a contraction joint designed to contract if the tool incurs sufficient axial loading. The contraction joint may comprise an outer housing and a mandrel slidably received in the outer housing. The contraction joint also comprises a resettable locking member which selectively releases the mandrel with respect to the outer housing to contract the contraction joint when under sufficient axial loading.