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31 October, 17:16

A stock brokerage firm has agreed to provide secured debt to Jamie's business. Jamie has pledged his warehouses to the stock brokerage firm. What is this process of pledging a property in exchange for a debt known as

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  1. 31 October, 17:32
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    It's a collateral which is a borrower's pledge of specific property to a lender, to secure repayment of loan or debt. The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending agreement.
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