Floating Charge

Formal

A charge (see also Charge definition) over the non-fixed assets of an enterprise, ensuring a higher level of security for providers of finance to businesses, eg banks.

Straight Talk

‘Ship ahoy’ and ‘Shiver-me-timbers’ - are nothing to do with a Floating charge whatsoever. It’s a charge (see Charge definition) that can be pinned onto anything that moves and that is owned by the borrower of funds.