Definitions for "Floating charge"
A charge, lien, etc., that successively attaches to such assets as a person may have from time to time, leaving him more or less free to dispose of or encumber them as if no such charge or lien existed.
A floating charge is used to provide security for money lent to a company. The charge is over the company's liquid assets (such as stocks and debtors) but it is only triggered by an event such as liquidation.
a charge given as security for the fulfilment of a financial obligation in which the property charged is defined by naming a type of property. If the financial obligation is not fulfilled, the chargee has the right to utilise whatever property of that type happens to be owned by the giver of the charge at the time when the charge is enforced.
A continuous input of current to a storage battery.