undated security

Undated Security

A debt security with no maturity date. That is, an undated security pays interest in perpetuity. Undated securities are rare outside of a few government securities in the United Kingdom.

undated security

see IRREDEEMABLE FINANCIAL SECURITY.
References in periodicals archive ?
Borrowers are normally made to sign an undated security cheque when securing a loan.
The second security the bank will insist on is an undated security cheque for an amount the borrower will sign to secure the lending.