Equipment Trust Certificate - In the US, a type of security, generally issued by a railroad, to pay for new equipment. Title to the equipment, such as a locomotive, is held by a trustee until the notes are paid off. An equipment trust certificate is usually secured by a first claim on the equipment.
Equipment Trust Certificate : in the us, a type of security, generally issued by a railroad, to pay for new equipment. title to the equipment, such as a locomotive, is held by a trustee until the notes are paid off. an equipment trust certificate is usually secured by a first claim on the equipment.
Equipment Trust Certificate