Unsecured

Unsecured Credit Arrangement - An Unsecured Credit Arrangement is a financial agreement where the borrower does not pledge any assets as collateral for the loan. This type of loan relies on the borrower's creditworthiness and often results in higher interest rates and stricter borrowing terms due to the increased risk for the lender.

Class Information

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Identification

Label (rdfs)
Unsecured Credit Arrangement
Preferred Label
Unsecured
Alternative Labels
Unbacked Credit, Unsecured Financing Arrangement
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Definition and Examples

Definition
An Unsecured Credit Arrangement is a financial agreement where the borrower does not pledge any assets as collateral for the loan. This type of loan relies on the borrower's creditworthiness and often results in higher interest rates and stricter borrowing terms due to the increased risk for the lender.
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Deprecated
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