Primary and collateral security
This query is : Resolved
28 January 2009
Hi,Kindly help me to know the difference between primary and collateral security.
CA. B.SRINIVASULU
(Expert)
28 January 2009
Primary security means the security on which the loan has been given. For eg. Term loan on plant and machinery Plant and machinery will be primary security.
Apart from that the company has given its building as additional security. Then the property will become collateral security.
Apart from that the company has given its building as additional security. Then the property will become collateral security.
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