Equipment trust certificate – A type of security
Post# of 1188
Posted On: 06/16/2012 1:47:57 AM
Equipment trust certificate – A type of security, generally issued by a railroad, to pay for new equipment. Title to the equipment, such as a locomotive, is held by a trustee until the notes are paid off. An equipment trust certificate is usually secured by a first claim on the equipment.
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Just doing what I do best, music and coding. I like Honeypots.
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