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English definition of “floating charge”

floating charge

noun [C]     FINANCE, LAW
an arrangement in which a person or organization that lends money to a company has the right to take control of the company's assets if the debt is not paid: Floating charges are intended to provide security for lenders and allow companies to continue to trade freely. → Compare fixed charge
(Definition of floating charge noun from the Cambridge Business English Dictionary © Cambridge University Press)
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