Question

What is the Meaning Of 'Collateral' ?​

Answer 1

Explanation:

The term collateral refers to an asset that a lender accepts as security for a loan. ... The collateral acts as a form of protection for the lender. That is, if the borrower defaults on their loan payments, the lender can seize the collateral and sell it to recoup some or all of its losses

Answer 2

Answer:

something pledged as security for repayment of loan ,to be forfeited in the event of default.