Updated: Aug 20, 2021

A slang term for security put up by a borrower in addition to his own promise to repay – it may take the form of a guarantee from a third party or deposit of documents of title.

Reference: The Penguin Business Dictionary, 3rd edt.

Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.