/səbˌstɪˈtuːʃən ɪn kəˈlætərəl/ – Phrase
Definition: việc thay thế vật thế chấp này bằng những vật thế chấp khác.
A more thorough explanation: In the context of collateral, substitution refers to the act of replacing one asset that is serving as collateral with another asset. This typically occurs when the original collateral is no longer available or suitable, and the lender agrees to accept a different asset as security for the loan.
Example: The bank required the borrower to provide his car as collateral for the loan.