Hypothecation certificate. A certificate lodged by the seller with the buyer of a bill of exchange
drawn against a shipment of property; it describes the nature of the shipment and states that the
bill of lading, insurance policy, etc., are lodged and pledged with the holder of the bill of exchange
as security for the payment of the bill (or for the acceptance of the bill) by the drawee (the one
drawn upon).
drawn against a shipment of property; it describes the nature of the shipment and states that the
bill of lading, insurance policy, etc., are lodged and pledged with the holder of the bill of exchange
as security for the payment of the bill (or for the acceptance of the bill) by the drawee (the one
drawn upon).
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