GIVEN SECURITY Meaning and
Definition
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Given security refers to a type of collateral that is provided by a borrower to a lender in order to secure a loan or a financial transaction. It is an asset or property offered by the borrower as a guarantee to the lender that the loan will be repaid. In the event of default or non-payment of the loan, the lender has the right to seize or sell the given security to recover the amount owed.
The given security can take different forms depending on the nature of the transaction and the agreement between the parties involved. Common forms of given security include real estate properties, vehicles, stocks, bonds, or other valuable assets. These assets generally hold a certain value and are identifiable, making them suitable for securing loans and transactions.
The purpose of providing a given security is to minimize the lender's risk of financial loss. By having an asset pledged as collateral, the lender can have a source of repayment in case the borrower fails to fulfill their obligation to repay the loan. The value of the given security is assessed by the lender to determine the amount of the loan or credit granted, as it serves as a guarantee for the lender's investment.
Given security offers lenders a level of reassurance and acts as a deterrent against potential defaults, as borrowers are more inclined to fulfill their financial commitments to prevent the loss of their pledged assets. Additionally, the presence of given security can also result in more favorable terms for borrowers, such as lower interest rates or higher credit limits.
Common Misspellings for GIVEN SECURITY
- fiven security
- viven security
- biven security
- hiven security
- yiven security
- tiven security
- guven security
- gjven security
- gkven security
- goven security
- g9ven security
- g8ven security
- gicen security
- giben security
- gigen security
- gifen security
- givwn security
- givsn security
- givdn security
- givrn security
Etymology of GIVEN SECURITY
The phrase "given security" does not have a specific etymology because it is not a standalone word. However, both "given" and "security" have separate origins.
- "Given" comes from the Old English word "giefan", meaning "to give". It has roots in the Proto-Germanic language and is related to the Old Norse "gefa" and Old High German "geban".
- "Security" has its roots in the Latin word "securitas", which means "freedom from care or anxiety". The term "securitas" is derived from the Latin word "securus", meaning "free from care". It ultimately traces its origins back to the Latin words "sine" (without) and "cura" (care).
When the two words are combined as "given security", they imply the notion of providing or granting protection, safety, or assurance to someone or something.
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