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English definition of “collateral”

collateral

noun [U]
 
 
/kəˈlætərəl/
FINANCE property that someone borrowing money will give to the loan company, if he or she cannot pay the debt: use sth as/pledge sth as/put sth up as collateral Debt counsellors are concerned by the trend towards using houses as collateral against debt. → See also marketing collateral, security
(Definition of collateral from the Cambridge Business English Dictionary © Cambridge University Press)
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