Social Sciences, asked by nisha7253, 1 year ago

what is collateral? define it .

Answers

Answered by MUDITASAHU

Collateral- It is the security advanced to the lender by the borrower to obtain credit. Defaulting on loan payments leads to confiscation of collateral by the lender.

Answered by stylishtamilachii001

is an asset, such as land ,vehicle, building and livestock that a borrower owns and uses

this as a guarantee to a lender until the loan is repaid.

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