Examlex
The loss of transaction processing efficiency:
Reimbursement
Reimbursement involves compensating someone for expenses they have incurred on your behalf.
Security Interest
A security interest is a legal claim or right granted by a borrower to a lender as collateral for a loan, securing payment or performance of an obligation.
Perfection
Perfection is a legal process that establishes a secured creditor's interest in a debtor's collateral, making it legally enforceable against third parties.
Collateral
Property or assets that are pledged as security for the repayment of a loan, subject to seizure on default.
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