Nonnotification Loan
Barron's Banking Dictionary:
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Nonnotification Loan
Loan that is securitized by accounts receivable, and where the original debtor is not notified that the account has been pledged. Such loans are on a recourse basis; i.e., if the receivables are not paid, the borrower is still liable.
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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