Meaning of non-recourse in English:


Pronunciation /ˌnɒnrɪˈkɔːs/


  • 1(of a loan) made to finance a particular project, with the condition that the project's profits are the only assets out of which the borrower is legally obliged to repay the loan.

    1. 1.1(of debt) secured by property or other collateral, with the borrower not being personally liable for further compensation if the debt is not repaid.