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TeachMeFinance.com - explain Loan forfeiture Loan forfeiture The term 'Loan forfeiture ' as it applies to the area of agriculture can be defined as ' Under commodity program rules, a producer or processor who pledges a stored commodity as collateral to the Commodity Credit Corporation to obtain a nonrecourse loan can settle the repayment obligation by forfeiting the commodity without any penalty. This happens, by design, if forfeiture is more profitable than selling the commodity in the marketplace. In this way the loan program serves a price support function'. Previous 5 Terms: Loaded Gun (Sounding) Load-serving entity (electric) LOAEL Loam Loan deficiency payments Next 5 Terms: Loan forfeiture level, sugar Loan rate lobar loblolly lobular About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.