Pawnage
Pronunciation: /ˈpɔnəɡ/
Pawnage (noun)
- Money paid for the right to keep something as a pledge until a debt is repaid.
- A fee charged when property is used to secure a loan, usually added to the amount owed.
Examples
- The pawnage was paid after the agreement was signed.
- They requested the pawnage payment before releasing the item.