PET - Plain English Taxonomy

Attribute: CS02253
Label: Floating Charge Security that has been Granted over Assets
Concept Guidance:
This is the value, as at the relevant date, of the floating charge that has been granted over the assets of the reporting party.A floating charge is a form of security provided by a borrower to a lender where the creditor's charge or claim is not lodged over a particular asset, but is fixed on a specific asset, or group of assets, only if the default occurs. This process is called crystallisation of the charge. A floating charge leaves the debtor free to buy, sell and vary the assets until such time as the charge is crystallised. 
This attribute does not have any dimensions.