- Specific items of property that a borrower pledges as security for the repayment of a loan. The borrower agrees that the lender will have the right to sell the collateral for the purpose of liquidating the debt if the borrower fails to repay the loan at maturity or otherwise defaults under the terms of the loan agreement. See also Loan and credit facility and Collaterals tables.
International financial encyclopaedia . 2014.
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