Economy, asked by saurabhthegreatone, 5 months ago

what is the meaning of colletral

Answers

Answered by rizwanahmedpathan

Explanation:

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

Answered by sultandanish119

Answer:

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.

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