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parate execution

parate execution
 n.— «Parate execution is a term that defaulting customers of banks fear most. “Parate” is a Dutch term which means “immediate” and “parate execution” basically means a debt recovery process outside the normal law. The moment a “parate resolution” is published in the newspapers the borrower whose name is mentioned in the newspaper notice becomes even socially ostracised. I have also known of marriages being called off as a result of a parate notice in the newspapers!» —“Banking legislation which was blocked in Parliament” by Wickrema Weerasooria The Nation (Colombo, Sri Lanka) July 23, 2006. (source: Double-Tongued Dictionary)

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