Pledge: Difference between revisions
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imported>Doug Williamson (Expand. Source: Global supply chain finance forum.) |
imported>Doug Williamson (Classify page.) |
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== See also == | == See also == | ||
* [[Covered bond]] | |||
* [[Fixed charge]] | * [[Fixed charge]] | ||
* [[Garnishee order]] | |||
* [[Lien]] | * [[Lien]] | ||
* [[Mortgage]] | * [[Mortgage]] | ||
* [[Remedy]] | * [[Remedy]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 06:51, 2 July 2022
An item transferred by a borrower to a lender, as a security for a debt.
The borrower remains the legal owner of the item, but if the borrower fails to repay the loan the lender has the right to sell it and to use the proceeds to pay the debt.
The lender normally retains physical possession of the asset until the debt is repaid.
