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Primary and collateral security

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(Querist)
28 January 2009 Hi,Kindly help me to know the difference between primary and collateral security.
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CA. B.SRINIVASULU

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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.
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