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collateral Definition

col·lat·eral (kə lat′ər əl)

adjective

  1. side by side; parallel
  2. parallel in time, rank, importance, etc.; corresponding
  3. accompanying or existing in a subordinate, corroborative, or indirect relationship
  4. descended from the same ancestors but in a different line a cousin is a collateral relative
    1. designating or of security given as a pledge for the fulfillment of an obligation
    2. secured or guaranteed by property, as stocks or bonds a collateral loan

Etymology: ME < ML collateralis < L com-, together + lateralis, lateral

noun

  1. a collateral relative
  2. ☆ anything, such as stocks or bonds, that secures or guarantees the discharge of an obligation

collateral Related Forms

col·lat′·er·ally adverb

collateral Synonyms

collateral

modif.

  1. Side by side

    parallel, lateral, coordinate, corresponding; see parallel 1.

  2. Accompanying

    concomitant, corroborative, supporting, ancillary; see affirmative, simultaneous, subordinate.

collateral Synonyms

collateral

n.

security, guarantee, pledge, promise, financial promise, insurance, endorsement, warrant, deposit; see also insurance, pledge, security 2.

collateral Finance Definition

An asset pledged as payment for a loan if the debtor fails to make regular payments. Collateral on a consumer loan may be an automobile, real estate, or other significant personal property. Collateral on a business loan may be property, equipment, or other assets of the company. On asset-backed debt, the collateral is the underlying mortgages or credit-card receivables.

collateral Law Definition

adj

Secondary; subordinate; supplemental.

n

Property, including accounts, contract rights, and chattel paper, that is subjected to a security interest in exchange for credit or as security for a debt.

adj

Indirect; on a parallel or diverging line.
collateral ascendant
A relative, such as an aunt, uncle, or cousin, who has a common ancestor with a person but is not that person’s ancestor. Also called collateral. See also ancestor and descendant.
collateral attack
An attack in a judicial proceeding against another judicial proceeding or a judgment entered in another court. For example, a party in Florida may attack a judgment entered against him by an Alaska court on the grounds that Alaska did not have jurisdiction over him or the underlying cause of action. See also habeas corpus and direct.
collateral consanguinity
See consanguinity.
collateral estoppel
See estoppel.
collateral heir
See heir.
collateral source rule
In tort law, the doctrine that any compensation, such as insurance benefits, received by an injured party from a source that is independent of the tortfeasor does not reduce the damages that the tortfeasor is obligated to pay. See also subrogation.

collateral Usage Examples

Converse of object

  • require: These lenders often require specific collateral based on the purpose of the loan.
  • lack: The Small Firms Loan Guarantee Scheme exists to help viable businesses lacking collateral to obtain conventional finance.
  • choose: A Matter of Collateral Finding the best secured loan is largely a matter of choosing the right collateral.
  • offer: Applying for a loan by offering collateral or security will get you a lower interest rate.
  • represent: Benefits of s benefit for myself itself represents collateral a loan remains.

Preposition: against

loan: In simpler words, a borrower has to put a collateral against the loan taken.

Preposition: as

security: If you deposit collateral as security with your bookmaker, you should ascertain from your bookmaker how your collateral will be dealt with.

Adjective modifier

  • sufficient: The financial options for unemployed people without sufficient collateral are no less.
  • physical: And values for physical collateral are also likely to be cyclical.

Modifies a noun

  • ligament: The lateral collateral ligament is on the outside of the knee.
  • warranty: There was, in addition, a claim against H R Owen for damages for breach of collateral warranty.
  • damage: What is termed ' collateral damage ' is due to lack of planning.
  • cartilage: Uncomplicated, normal, progressive ossification of the sound horse's collateral cartilages causes no clinical problems and requires no treatment.
  • taker: Final coupon ( where appropriate ) redistributed from collateral taker to giver through CREST Claims Processing Unit based on information input by IPA.
  • intrusion: In doing so they must address the possibility of collateral intrusion.

Noun used with modifier

  • high-value: These loans tend to be for lower amounts than many loans, and require moderate or high-value collateral to secure the loan.
  • marketing: Thank you for your input on Martha Tydfil's marketing collateral.
  • cash: Business, Savings, Cash collateral or Current account ).
  • sale: We provide our business partners with personal support as well as product data sheets, product photographs and sales collateral.

Preposition: for

loan: Unsecured loans do not require any collateral for the loan.