fixed charge
Definition
Lien or mortgage on a specific fixed-asset (such as a parcel of land) to secure the repayment of a loan. In this arrangement the asset is signed over to the creditor and the borrower would need the lender's permission to sell it. The lender also registers a charge against the asset which remains in force until the loan is repaid. See also floating charge and fixed charges.
fixed charge is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
fixed charge appears in the definitions of the following terms: charge, occupation tax, demand charge, lump sum fee, fixed charges, floating charge, fixed debenture, debenture and fixed lien
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