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English definition of “collateral”

collateral

noun [U]     /kəˈlætərəl/
things that you agree to give someone if you are not able to pay back money you have borrowed from them: I used my car as collateral for a loan.Mortgages and real estateRenting, hiring and hire purchase in general Renting propertySavings, interest and capital
(Definition of collateral noun from the Cambridge Learner's Dictionary © Cambridge University Press)

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