English version

memorandum of deposit

From Longman Business Dictionarymemorandum of depositmemoˌrandum of deˈposit noun (plural memoranda of deposit or memorandums of deposit) [countable]LAWFINANCE a document showing an agreement with a bank when shares and other investments are left as SECURITY for a loan. It gives details about the bank’s right to these investments if the loan is not repaidThe shares were subject to a memorandum of deposit in favor of the bank, which had effective control of them.
Pictures of the day
Do you know what each of these is called?
Click on the pictures to check.