UNSECURED Definition

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UNSECURED is obligation backed not by collateral but only by the integrity of the borrower. Opposite of secured.

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SWIFT CODE, within the context of international payment transactions, is a code issued by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) that enables banks worldwide to be identified without the need to specify an address or bank number. SWIFT codes are used mainly for automatic payment transactions.

DISBURSE/DISBURSEMENT is the paying out of money to satisfy a debt or an expense.

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