Undated security financial definition of 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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive
A pragmatic solution to this is for the contractor to furnish the employer with a signed but undated security
cheque, which the employer may cash if it suffers loss on account of a breach by the contractor.
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.