担保契约协议当提供贷款时允许经纪公司将账户内的证券作为抵押品。必须在开设空白账户时签署。

Hypothecation Agreement Allows a brokerage to use securities in an account as collateral when providing loans. Must be signed when opening a margin account.

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凭借款人信誉而非抵押品作保的未担保债务，用协议来为其作书面证明。是指只用公司信誉作担保，而无任何抵押担保的债券。

Unsecured debt backed only by the integrity of the borrower, not by collateral, and documented by an agreement called an indenture.

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