strip

/strɪp/ verb [T] (-pp-)

Definition

› FINANCE to remove the interest payments from a bond and sell them separately from the original bond: Certain of these securities may have variable interest rates and others may be stripped.

› (also strip sth down) to separate a machine or piece of equipment into separate parts in order to clean or repair it: Apprentices are taught how to strip and repair machinery. → See also asset-stripping

(Definition of strip verb from the Cambridge Business English Dictionary © Cambridge University Press)