Recourse

Term describing a type of loan. If a loan is with recourse, the lender has a general claim against the parent company if the collateral is insufficient to repay the debt.

Similar financial terms

Without recourse
Without the lender having any right to seek payment or seize assets in the event of default from anyone other than the party (such as a special-purpose entity) specified in the debt contract.

Nonrecourse
Without recourse, as in a non-recourse lease.

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Did you know?

Short Term Gain

The profit realized from the sale of securities or other capital assets possessed for twelve months or less.


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