Collateral security

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security for the performance of covenants, or the payment of money, besides the principal security.

See also: Collateral

Webster's Revised Unabridged Dictionary, published 1913 by G. & C. Merriam Co.
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"DEAR SIR, - We notice that your account to-day stands 119,000 pounds overdrawn, against which we hold as collateral security shares in the Bekwando Land Company to the value of 150,000 pounds.
In 2002, the said company approached the J&K Bank for the loan and the bank initially sanctioned a loan amount of Rs 2 crore against collateral security of three properties valued at Rs 10 crore.
The Governor said the revolving fund was introduced in 2015 to cater for rural farmers who cannot afford bank loans due to high interest rates and lack of collateral security.
He said the engineers provided, among others, surveying, mapping and geo-information datasets to support land management, agriculture, infrastructure development, natural resource management, exploration/mining, disaster management, national security and title registration to ensure collateral security for property owners, thereby driving the economy.
The development bonds are direct and unconditional obligations of the government of Oman and they can be used as a collateral security to obtain loans from any local licensed bank.
THE Insurance Commission (IC) has authorized the release of the collateral security amounting to P650 million for the supersedeas bond posted by Philippine Airlines Inc.
It charged that the accused - Mallya and KAL - projected the "brand value of the airline as a collateral security inspite of the same being a hypothetical assets and suffering from deficiencies."
The Credit Guarantee Fund Scheme for Education Loans provides guarantee for the education loan disbursed by banks without seeking any collateral security and third-party guarantee, for a maximum loan amount of Rs 7.5 lakh per student.
But before taking decision on waiver to adjust classification, collateral security value of the client has to be considered.
Sibal also alleged that a company owned by Jay Amit Shah got a loan of Rs250 million from a cooperative bank without sufficient collateral security, besides a loan of Rs100.35 million from Indian Renewable Energy Development Agency Limited (IREDA), a public sector firm under the Ministry of New and Renewable Energy, which is under Goyal.