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English definition of “collateral”

collateral

noun [U] (SECURITY FOR DEBT )    /kəˈlæt.ər.əl/ US  /-ˈlæt̬.ɚ-/
valuable property owned by someone who wants to borrow money , that they agree will become the property of the company or person who lends the money if the debt is not paid back: She used/put up her house as collateral for a loan .Savings, interest and capital
(Definition of collateral noun (SECURITY FOR DEBT ) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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