Property or assets that are provided as security for a loan or other obligation. In the event that such loan or obligation fails to be repaid/met, the chargee (the person to whom the collateral was provided) will have recourse to the collateral.
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Property or assets that are provided as security for a loan or other obligation. In the event that such loan or obligation fails to be repaid/met, the chargee (the person to whom the collateral was provided) will have recourse to the collateral.