Assigned Account

Assigned Account

A type of secured transaction whereby an account receivable is pledged to a bank, factor, or other lender to secure the repayment of a loan.

It is common commercial practice for a manufacturer or wholesaler to sell inventory on open account, a debt owed to the seller of inventory that is to be repaid by its buyer as the merchandise is sold. This arrangement creates an account receivable that the seller uses as collateral for a loan.

References in periodicals archive ?
Assigned account retail lending, regulatory caps on lending to retail borrowers (i.
The letter states that Arvest will make a market for the stock, purchase it and deposit the cash in the assigned account in the event Integrity First requests repayment of the loan.
inthinc customers should contact their assigned account manager to discuss their current needs and determine how the inthinc Data Services Team can help.
Premier and Advanced Members have access to dedicated sales support, enablement, assigned account management.
The new HP Critical Advantage service provides clients with an assigned account team to deliver support and maintain uptime of business-critical, virtualised environments.
The study also finds that satisfaction increases further when an assigned account manager demonstrates an understanding of the customer's business.
Thirty-four percent of customers who have an assigned account manager report having had a problem with fees and service charges, compared with 39% of customers without an assigned account manager.
Upon installation, the assigned account specialist institutes a set of customized climate-related best practices encompassing everything from set points to schedules to heating and cooling limits.
We abandoned the course schedules, assigned account managers to the various parts of the organisation, and off we went to seek the learning needs that would help each business.
The 'uniqueness' of the dedicated, assigned account manager service that has impressed UK customers could perhaps be developed to cover overseas customers' needs.
Each Infortel-TSB client has its own assigned account coordinator.
Priority technical support through an assigned account representative, with a dedicated direct phone line, email and live chat