Secured Loan

Definition

Secured Loan. A loan which is secured by some security in the form either of collateral or of guaranty.

All loans are either secured or unsecured All secured loans are secured by some asset or some guaranty Guaranties have various forms. Guaranties have a guarantor. The guarantor may or may not elect to introduce some collateral of their own. Guarantor may or may not be Co-borrower. Linguistic clues: Collateral Agreement: Side agreement (co - lateral) giving the lender acccess to those assets. Set of terms existing the contract. "Security Interest".

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.