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 ?
Companies wanting to register can contact their assigned Account Manager or visit any of Ooredoo's 50 stores located across Oman.
For more details about Video Pre-Roll Ads with TrafficStars, publishers and advertisers can contact their assigned account managers or email advertising@trafficstars.
Assigned account retail lending, regulatory caps on lending to retail borrowers (i.
Within our business, a client will have an assigned account executive, technically competent and with indepth knowledge of their business.
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.
Forty percent of small business banking customers with an assigned account manager indicate at least one change in account manager during the past year, negatively impacting overall satisfaction.
Premier and Advanced Members have access to dedicated sales support, enablement, assigned account management.
The ministers were also at pains over the wording of the paragraph on surplus carbon allowances (known as assigned account units or AAU), which states the EU's position faced with those who wish to end the perverse effects of Kyoto.
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.