Pledge and Point of sale: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
m (Spacing 21/8/13)
 
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An item transferred by a borrower to a lender, as a security for a debt.
(POS).  


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 use of payment cards at a retail location (point of sale).  


The relevant payment information is captured either by paper vouchers or by electronic terminals. 


The lender normally retains physical possession of the asset until the debt is repaid.
Increasingly, electronic terminals can also transmit the information - this process is called, Electronic funds transfer at the point of sale (EFTPOS).




== See also ==
== See also ==
* [[Covered bond]]
* [[Electronic funds transfer at point of sale]]
* [[Fixed charge]]
* [[Garnishee order]]
* [[Lien]]
* [[Mortgage]]
* [[Remedy]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 13:27, 21 August 2013

(POS).

The use of payment cards at a retail location (point of sale).

The relevant payment information is captured either by paper vouchers or by electronic terminals.

Increasingly, electronic terminals can also transmit the information - this process is called, Electronic funds transfer at the point of sale (EFTPOS).


See also

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