Define Collateral Security.
1 year ago
Banking
The term collateral Security is used in two senses. In a narrow sense, it refers to the securities deposited by the third party to secure advance for the borrower, in a wider sense, it denotes any type of security on which the creditor has a personal right of action on the debtor in respect of the advance.
Rusma Khadka
May 23, 2023