Oct 27, 2016 20:25
7 yrs ago
English term

charge (see context)

English Bus/Financial Law: Contract(s) Accounting
The pledge in favor of the Bank – being a ***charge*** on the booked debts of the Borrower – needs to be registered with the Cypriot Registrar of Companies.

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Votes to reclassify question as PRO/non-PRO:

Non-PRO (1): philgoddard

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Responses

+2
3 hrs
Selected

lender's right to claim the pledged property

A charge is a lender's right to claim the pledged property, which is registered with a relevant authority.
https://en.wikipedia.org/wiki/Mortgage_law#Mortgage_by_legal...
Peer comment(s):

agree philgoddard : It means a pledge or lien.
1 hr
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agree Veronika McLaren : Right on!
14 hrs
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4 KudoZ points awarded for this answer. Comment: "Thank you!"
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