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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

undated security

see IRREDEEMABLE FINANCIAL SECURITY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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.