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Fixed charge

A term used to describe a mortgage of distinct assets against which a loan is made. The charge applies to assets specifically identified and is distinguished from a floating charge. These terms usually arise in connection with an issue by a company of debentures, which are accordingly described as fixed, or floating. debentures. Occasionally the term fixed charges is also used as a synonym for fixed costs.

Reference: The Penguin Business Dictionary, 3rd edt.