noun
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future
• Syn: ↑unsecured bond, ↑debenture
• Ant: ↑secured bond (for: ↑unsecured bond)
• Hypernyms: ↑bond, ↑bond certificate
* * *
nounsee debenture 2b
* * *
a corporate bond unsecured by any mortgage, dependent on the credit of the issuer.
[1865-70]
* * *
debenture bond,
a bond issued by a company acknowledging indebtedness for a sum on which interest is due until the principal is repaid.
Useful english dictionary. 2012.