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English definition of “charge on assets”

charge on assets

noun [C]
 
 
( plural charges on assets) ( also charge) LAW, PROPERTY
the right of a lender to be paid from a borrower's assets if the debt is not paid on time: Every year the company must report its total debts secured by a charge on assets.
(Definition of charge on assets from the Cambridge Business English Dictionary © Cambridge University Press)
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