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Trust Receipt |
Also found in: Financial, Acronyms | 0.02 sec. |
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A document by which one individual lends money to purchase something and the borrower promises to hold the item for the benefit of the lender until such time as the debt is paid. A trust receipt was a device used before the adoption of the Uniform Commercial Code (UCC); it is now governed by Article 9 of the UCC, which concerns Secured Transactions. A trust receipt stated that the buyer had possession of the goods for the benefit of the financier. Currently there ordinarily must be a security agreement, together with the filing of a financing statement, to protect a lender's interest in goods purchased on credit by a buyer. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The securities include custodial or trust receipts, auction rate receipts, inverse floating-rate receipts, and synthetic floating-rate receipts with put features, the most popular type of secondary market synthetic security. The securities include custodial or trust receipts, auction rate receipts, inverse floating-rate receipts, and synthetic floating-rate receipts with put features, the most popular type of secondary market synthetic security. The securities include custodial or trust receipts, auction-rate receipts, inverse floating-rate receipts, and synthetic floating-rate receipts with put features, the most popular type of secondary market synthetic security. |
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