Certificates of Claim
When mommy and daddy borrow money from a bank, they promise to pay it back later. To show that they promised, the bank gives them a special paper called a certificate of claim.
This paper is like a ticket that says the bank gave mommy and daddy money and they have to give it back. The certificate of claim also says how much money they have to give back and when they have to give it back.
Sometimes, people can buy these certificates of claim from the bank. This means they will get the money mommy and daddy promised to pay back. But they have to pay for it first. It's like buying a toy from the store. You have to pay for it first before you can take it home.
So, certificates of claim are like special papers that show that someone promised to pay back money to the bank. Other people can buy these papers and get the money that was promised when mommy and daddy borrowed it.
This paper is like a ticket that says the bank gave mommy and daddy money and they have to give it back. The certificate of claim also says how much money they have to give back and when they have to give it back.
Sometimes, people can buy these certificates of claim from the bank. This means they will get the money mommy and daddy promised to pay back. But they have to pay for it first. It's like buying a toy from the store. You have to pay for it first before you can take it home.
So, certificates of claim are like special papers that show that someone promised to pay back money to the bank. Other people can buy these papers and get the money that was promised when mommy and daddy borrowed it.