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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Revision as of 08:51, 22 February 2010
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Collateral (finance) [r]: An asset that is promised or given to a creditor to guarantee the discharge of an obligation by the debtor. Upon default, the creditor may seize the asset and sell it to pay off the loan.