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.
Charge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets.
a charge over a class of assets, such as the stock in trade of the business
a charge over the assets for the time being of a company referred to in the mortgage or other document creating the charge
a charge placed on property which characteristically fluctuates eg the stock of a company has the characteristic of increasing, decreasing
a charge that does not affect the assets charged until some event 'crystallises' (fixes) the charge to a certain point in time
a security over a class of assets which change from time to time until they are fixed by an event or act such as liquidation
A form of security granted to a creditor over general assets of the company that may change over time in the normal course of business (e.g. stock).
A charge secured on a class of assets, present and future. This class is likely to change in the ordinary course of business from time to time. It is expected that the company will be free to deal with those assets subject to the charge until such a time as the company ceases to carry on business in the usual way.
A charge granted to a creditor that is a 'floating charge' on its creation; that is the assets may change over time in the normal course of business.
A charge held over general assets of a company i.e. stock. The company can continue to use the asset without consent until the charge crystallises. This occurs on the appointment of an administrative receiver, on a winding-up petition or as otherwise provided for in the document creating the charge.
A security which allows a company the free use of its assets until the security is called up when it attaches to all the assets of the company.
A floating charge is a form of security granted to a creditor over general assets of a company which may change from time to time in the normal course of business (e.g. stock). The company can continue to use the assets in its business until an event of default occurs and the charge crystallises. If this happens, the secured creditor can realise the assets to recover his debt, usually by appointing an administrative receiver, and obtain the net proceeds of sale subject to the prior claims of the preferential creditors (e.g. Customs & Excise or Inland Revenue).
a charge held over general assets of a company. The assets may change (such as stock) and the company can use the assets without the consent of the secured creditor until the charge "crystallises" (becomes fixed). Crystallisation happens on the appointment of an administrative receiver, on the presentation of a winding-up petition or as otherwise provided for in the document creating the charge.
This is a type of charge held over all of the assets of a company not subject to a valid fixed charge.
a form of security for a debt. Instead of naming a specific property, which can be taken by the creditor if the debtor defaults (as in a fixed charge like a mortgage) a class of goods or assets is named such as the debtors stock. This allows the debtor to trade in the assets freely but if the debtor fails to make repayments then the floating charge becomes a fixed charge (known as crystallisation) over all the stock at that time and the creditor can take and sell it to recover the debt.
This is a security for an obligation created by a company over all or part of that company's property. A company may, however trade and alienate that property until the floating charge attaches or crystallises.
Security created by a Company over its whole assets and undertaking for the time being. The business is able to continue full business, acquiring and disposing of it assets. Where there is default, the floating charge crystallises and becomes fixed over the assets held at that time.
A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course. The floating charge crystallises if there is a default or similar event. At that the stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
A general lien on a company's assets that can be realised by the beneficiary of the floating charge in accordance with its terms. At the point of realisation, it crystallises into a fixed charge.
A floating charge is a security interest over all of the assets of a company which 'floats' until an event of default is triggered or until the company goes into insolvent liquidation at which time the floating charge crystallises and attaches to all of the assets of the company.