Collateral (finance)/Definition: Difference between revisions
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imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> An asset that is promised or given to a creditor to guarantee the discharge of an obligation by the debtor. Upon [[default (finance)|...) |
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An [[asset (finance|asset]] that is | An [[asset (finance)|asset]], or other property of a borrower, that a creditor is entitled by a loan agreement to receive if the borrower [[default (finance)|defaults]] on the terms of the loan. | ||
Latest revision as of 07:33, 9 July 2012
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Collateral (finance) [r]: An asset, or other property of a borrower, that a creditor is entitled by a loan agreement to receive if the borrower defaults on the terms of the loan.