floating charge


noun

mainly British an unsecured charge on the assets of an enterprise that allows such assets to be used commercially until the enterprise ceases to operate or the creditor intervenes to demand collateral

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Question 1 of 9
You may have read the word "simmer" in a recipe or two, but what does it really mean?
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012