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In finance, a floating charge is a security interest over a fund of changing assets of a company or other legal person.Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock.
The effect of laws relating to voidable floating charges varies from jurisdiction to jurisdiction. Some countries simply provide that such charge are automatically void or not enforceable, [3] In other jurisdictions, they are only voidable and an application must be made by a liquidator or creditor for the floating charge to be set aside.
Float voltage is the voltage at which a battery is maintained after being fully charged to maintain that capacity by compensating for self-discharge of the battery. [1] The voltage could be held constant for the entire duration of the cell's operation (such as in an automotive battery) or could be held for a particular phase of charging by the charger. [2]
A floating charge is a qualifying floating charge if it is expressed to be one, or if the security document purports to give the holder power to appoint an administrator or administrative receiver. The procedure for appointing an administrator under a qualifying floating charge is as follows:
Romer LJ said a charge is "floating" if it (1) is a charge on present and future assets (2) the class of assets changes in the ordinary course of business, and (3) the company can deal with the assets in business as usual. [1] The term “floating” is one that until recently was a mere popular term. It certainly had no distinct legal meaning.
Siebe Gorman & Co Ltd v Barclays Bank Ltd [1979] 2 Lloyd's Rep 142 is a UK insolvency law case, concerning the definition of a floating charge. It was an influential decision for many years, but is now outdated as authority in light of the House of Lords decision in Re Spectrum Plus Ltd.
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Trickle charging is the process of charging a fully charged battery at a rate equal to its self-discharge rate, enabling the battery to remain at its fully charged level. This state occurs almost exclusively when the battery is not loaded, as trickle charging will not keep a battery charged if current is being drawn by a load.