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Define collateral security?
Collateral security is extra security provided by a borrower to back up his/her intention to repay a loan.
What does collateral refer to?
security for a loan or outside of what was intended (collateral damage)
What is the difference between security and collateral security?
Security is broader, including guarantees etc. Collateral is something specific that can be seized upon default, like a house, car, or shares.
What is the different between security and collateral security?
Security is broader, including guarantees etc. Collateral is something specific that can be seized upon default, like a house, car, or shares.
Is personal guarantee a collateral security?
In some cases, yes. But mostly - not. Something should be given as a collateral security - whether it is a written agreement or an item to be surrendered.
Accounting-what is a collateral security?
Lying alongside a debt
What something of value pledged as security for a loan?
Collateral
What is the security for the repayment of a secured loan called?
Collateral.
Can be used in security for borrowing meaning?
collateral for a loan
What is security for a loan called?
The security for a loan is typically referred to as collateral. Collateral is an asset or property that the borrower pledges to the lender as assurance for repayment. If the borrower defaults on the loan, the lender has the right to seize the collateral to recover their losses. Common forms of collateral include real estate, vehicles, and financial accounts.
What would be good collateral for a lease agreement?
A good collateral for a lease agreement would be a tangible property, such as a house, motor vehicle, financial collateral as well as intellectual security.
What is a person who has a security interest in collateral owned by the debtor buyer?
A person who has a security interest in collateral owned by the debtor buyer is known as a secured party. This individual or entity holds a legal claim or lien on the collateral to ensure repayment of a debt or obligation. If the debtor defaults, the secured party has the right to seize or sell the collateral to satisfy the debt. This arrangement is typically formalized through a security agreement.
