Business Terms and Jargon Explained

What is Collateral

Where an asset or assets e.g. house, car is pledged as a guarantee to a lender for a loan. If repayments are not made or defaulted then the lender has the right to sell the collateral to recover the loan amount and charges.

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EX550 Civil Court form DTI-CHIEF Confirmation of Verbal Agreement
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Term created / updated 2005-07-16 23:12:15

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