Tardy with some of the collateral (4)
I believe the answer is:
late
'tardy' is the definition.
(synonyms)
'of the collateral' is the wordplay.
'of' indicates a hidden word.
'LATE' is hidden in the letters of 'collateral'.
'with some' is the link.
(Other definitions for late that I've seen before include "Departed - behind time" , "Former, delayed" , "Dead or dilatory" , "Recently dead" , "Overdue; dead" .)