trust receipt
noun[C]
LAW,FINANCEukusanarrangementin which abanklendsto abusinessso that it canbuyequipmentorgoods, but thebankis thelegalownerof theequipment, etc. and cansellit if thebusinesscannotpayback theloan
Examplesoftrust receipt
trust receipt
Personal property can often be secured with similar kind of device, variously called a chattel mortgage,trustreceipt, or security interest.
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Such financing was called trust receipts, where the merchant would hold the goods in trust for the banks.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.