Which of the following best describes a fixed charge?

A fixed charge specifically refers to a security interest that is attached to a particular asset or set of assets of a company. The defining feature of a fixed charge is that the charged asset cannot be altered, sold, or otherwise disposed of without the consent of the chargeholder. This allows the lender or chargeholder to maintain a degree of control over the asset in question, ensuring that it remains available to satisfy the debt in case of default.

This type of charge is in contrast to a floating charge, which allows the borrower to deal with the assets in the regular course of business until certain events occur, at which point the floating charge "crystallizes" into a fixed charge over the assets. The specificity and strictness of a fixed charge make it an important tool for lenders who want security over specific assets.