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 Definition of Without recourse - Finance dictionary
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Without recourse ((See Chapters 21 and 22 of the Vernimmen))
A loan or bond is said to be "without recourse" if the lender(-s) / bond investor(-s) do not have recourse on the borrower or issuer, but only on a pool of assets given as collateral. Otherwise, the loan/bond is said to be "with recourse".
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Definitions of terms begining
with the same letter as "Without recourse"
:
Without recourse ((See Chapters 21 and 22 of the Vernimmen))
A loan or bond is said to be "without recourse" if the lender(-s) / bond investor(-s) do not have recourse on the borrower or issuer, but only on a pool of assets given as collateral. Otherwise, the loan/bond is said to be "with recourse".
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