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Fixed charge: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "A fixed charge encumbers asset it secures from day one. To benefit from a fixed charge you need to have control over the assets - if the debot can deal with the secured as...") |
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A fixed charge is a type of [[charge]]. That is fixed. It doesn’t, so to say, ''[[floating charge|float]]''. | |||
A [[fixed charge]] encumbers asset it secures from day one. To benefit from a fixed charge you need to have control over the assets - if the debot can deal with the secured assets as it pleases without your knowledge and control, your charge may fail. On a good day it might get [[recharacterised]] as a floating charge — but don't bank on it and note that there are certain formal requirements to perfect a floating charge which you are likely not to have done, seeing as you were thinking what you had was a fixed charge. | A [[fixed charge]] encumbers asset it secures from day one. To benefit from a fixed charge you need to have control over the assets - if the debot can deal with the secured assets as it pleases without your knowledge and control, your charge may fail. On a good day it might get [[recharacterised]] as a floating charge — but don't bank on it and note that there are certain formal requirements to perfect a floating charge which you are likely not to have done, seeing as you were thinking what you had was a fixed charge. | ||