Floating charge

A "floating" charge — fondly known by legal witterati as a “floater”, is a security interest, which hovers in the æther, allowing the assets to move in and out of the custody account unhindered, but upon an enforcement event suddenly clamps down on whatever is in the account and becomes a “fixed” charge.

Well - we all do, now and then, when spring is upon us.

See also

• Fixed charge
• Security interest
• Light brown floater