[{"data":1,"prerenderedAt":535},["ShallowReactive",2],{"document-pledge-of-personal-property-D406":3},{"document":4,"label":26,"preview":11,"thumb":27,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":28,"breadcrumb":32,"related":39,"customDescModule":181,"customdescription":6,"mdFm":182,"mdProseHtml":534},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":25},"PLEDGE OF PERSONAL PROPERTY This Pledge of Personal Property (the \"Agreement\") is made and effective the [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Pledgor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [PLEDGEE NAME] (the \"Pledgee\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] FOR VALUE RECEIVED, the Pledgor hereby deposits and pledges with the Pledgee, the [DESCRIBE GUARANTY] collateral security described below to secure the payment of the following debt: [DESCRIBE] The personal property that is pledged as collateral includes the following: It is understood and agreed that: Pledgee may assign or transfer said debt and the pledged collateral hereunder.",null,"Pledge of Personal Property","2",32,"doc","https://templates.business-in-a-box.com/imgs/1000px/pledge-of-personal-property-D406.png","https://templates.business-in-a-box.com/imgs/250px/406.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#406.xml",{"title":6,"description":6},[16,19,22],{"label":17,"url":18},"Finance & Accounting","/templates/finance-accounting/",{"label":20,"url":21},"Business Loans","/templates/business-loan/",{"label":23,"url":24},"Guaranties & Collateral","/templates/guaranties-collateral/","pledge personal property","Pledge of Personal Property Template","https://templates.business-in-a-box.com/imgs/400px/406.png",[29,16,19,22],{"label":30,"url":31},"Templates","/templates/",[33,34,37],{"label":30,"url":31},{"label":35,"url":36},"Legal Agreements","/templates/business-legal-agreements/",{"label":23,"url":38},"/templates/guaranties-and-collateral/",[40,44,48,52,55,59,63,67,71,75,79,83,87,106,120,134,152,167],{"label":41,"url":42,"thumb":43,"extension":10},"Deed of Pledge Universality of Movable Property","/template/deed-of-pledge-universality-of-movable-property-D984","https://templates.business-in-a-box.com/imgs/250px/984.png",{"label":45,"url":46,"thumb":47,"extension":10},"Deed of Sale Real Estate Property","/template/deed-of-sale-real-estate-property-D1172","https://templates.business-in-a-box.com/imgs/250px/1172.png",{"label":49,"url":50,"thumb":51,"extension":10},"Offer to Purchase Real Estate Property","/template/offer-to-purchase-real-estate-property-D1190","https://templates.business-in-a-box.com/imgs/250px/1190.png",{"label":49,"url":53,"thumb":54,"extension":10},"/template/offer-to-purchase-real-estate-property-D1189","https://templates.business-in-a-box.com/imgs/250px/1189.png",{"label":56,"url":57,"thumb":58,"extension":10},"Option to Purchase Real Estate Property","/template/option-to-purchase-real-estate-property-D1194","https://templates.business-in-a-box.com/imgs/250px/1194.png",{"label":60,"url":61,"thumb":62,"extension":10},"Property Management Agreement","/template/property-management-agreement-D1196","https://templates.business-in-a-box.com/imgs/250px/1196.png",{"label":64,"url":65,"thumb":66,"extension":10},"Notice of Unclaimed Property at Auction","/template/notice-of-unclaimed-property-at-auction-D1218","https://templates.business-in-a-box.com/imgs/250px/1218.png",{"label":68,"url":69,"thumb":70,"extension":10},"Property Management Policy","/template/property-management-policy-D13754","https://templates.business-in-a-box.com/imgs/250px/13754.png",{"label":72,"url":73,"thumb":74,"extension":10},"Bill of Sale Immovable Property","/template/bill-of-sale-immovable-property-D1167","https://templates.business-in-a-box.com/imgs/250px/1167.png",{"label":76,"url":77,"thumb":78,"extension":10},"Buyer's Property Inspection Report","/template/buyer's-property-inspection-report-D1168","https://templates.business-in-a-box.com/imgs/250px/1168.png",{"label":80,"url":81,"thumb":82,"extension":10},"Contract of Sale of Commercial Property","/template/contract-of-sale-of-commercial-property-D1169","https://templates.business-in-a-box.com/imgs/250px/1169.png",{"label":84,"url":85,"thumb":86,"extension":10},"Immoveable Property Sale Agreement","/template/immoveable-property-sale-agreement-D1178","https://templates.business-in-a-box.com/imgs/250px/1178.png",{"description":88,"descriptionCustom":6,"label":89,"pages":90,"size":91,"extension":10,"preview":92,"thumb":93,"svgFrame":94,"seoMetadata":95,"parents":96,"keywords":104,"url":105},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[97,99,101],{"label":17,"url":98},"finance-accounting",{"label":20,"url":100},"business-loan",{"label":102,"url":103},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":107,"descriptionCustom":6,"label":108,"pages":8,"size":109,"extension":10,"preview":110,"thumb":111,"svgFrame":112,"seoMetadata":113,"parents":115,"keywords":114,"url":119},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement",513,"https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":114,"description":6},"loan agreement",[116,117,118],{"label":17,"url":98},{"label":20,"url":100},{"label":20,"url":100},"/template/loan-agreement-D417",{"description":121,"descriptionCustom":6,"label":122,"pages":8,"size":109,"extension":10,"preview":123,"thumb":124,"svgFrame":125,"seoMetadata":126,"parents":128,"keywords":127,"url":133},"PERSONAL GUARANTEE This Personal Guarantee (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Guarantor\"), an individual with his main address located at: [YOUR COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Second Party\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] I, [NAME OF GUARANTOR], residing at [COMPLETE ADDRESS], hereby personally and solidarity guarantee all of the obligations of [YOUR COMPANY NAME] and agree to be bound solidarity with [YOUR COMPANY NAME] for the prompt performance of [YOUR COMPANY NAME]'s obligations under that certain [SPECIFY] Agreement dated [DATE] (the \"Agreement\") between [YOUR COMPANY NAME] and [COMPANY NAME], including without limitation the payment of all goods, wares and merchandise as [YOUR COMPANY NAME] may from time to time select and purchase on credit from [COMPANY NAME], and hereby expressly renounce to the benefits of division and discussion. Furthermore, I agree that waive may extend the time for payment of any amounts owing to it by waive and/or may waive any default by waive without it in any way lessening or limiting my liability hereunder. Notwithstanding the foregoing, my guarantee hereunder to pay any and all amounts owing by [YOUR COMPANY NAME] to [COMPANY NAME] shall be limited to the sum of [AMOUNT] OR [%] of such outstanding amount.","Personal Guarantee","https://templates.business-in-a-box.com/imgs/1000px/personal-guarantee-D405.png","https://templates.business-in-a-box.com/imgs/250px/405.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#405.xml",{"title":127,"description":6},"personal guarantee",[129,130,131],{"label":17,"url":98},{"label":20,"url":100},{"label":23,"url":132},"guaranties-collateral","/template/personal-guarantee-D405",{"description":135,"descriptionCustom":6,"label":136,"pages":137,"size":138,"extension":10,"preview":139,"thumb":140,"svgFrame":141,"seoMetadata":142,"parents":143,"keywords":150,"url":151},"MORTGAGE This Mortgage (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Mortgagor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [MORTGAGEE NAME] (the \"Mortgagee\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS WHEREAS, Mortgagor is justly indebted to Mortgagee in the sum of [AMOUNT] in lawful money of [COUNTRY], and has agreed to pay the same, with interest thereon, according to the terms of a certain note (the \"Note\") given by Mortgagor to Mortgagee, bearing even date herewith. DESCRIPTION OF PROPERTY SUBJECT TO LIEN: \"PREMISES\" NOW, THEREFORE, in consideration of the premises and the sum hereinabove set forth, and to secure the payment of the Secured Indebtedness as defined herein, Mortgagor has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey unto Mortgagee property situated in [CITY, STATE/PROVINCE] more particularly described in Exhibit\" A\" attached hereto and by this reference made a part hereof; TOGETHER with all buildings, structures and other improvements now or hereafter located on, above or below the surface of the property herein before described, or any part and parcel thereof; and, TOGETHER with all and singular the tenements, easements, riparian and littoral rights, and appurtenances thereunto belonging or in anywise appertaining, whether now owned or hereafter acquired by Mortgagor, and including all rights of ingress and egress to and from adjoining property (whether such rights now exist or subsequently arise) together with the reversion or reversions, remainder and remainders, rents, issues and profits thereof; and also all the estate, right, title, interest, claim and demand whatsoever of Mortgagor of, in and to the same and of, in and to every part and parcel thereof; and, TOGETHER with all machinery, apparatus, equipment, fittings, fixtures, whether actually or constructively attached to said property and including all trade, domestic and ornamental fixtures, and articles of personal property of every kind and nature whatsoever (hereinafter collectively called \"Equipment\"), now or hereafter located in, upon or under said property or any part thereof and used or usable in connection with any present or future operation of said property and now owned or hereafter acquired by Mortgagor; and, TOGETHER with all the common elements appurtenant to any parcel, unit or lot which is all or part of the Premises; and, ALL the foregoing encumbered by this Mortgage being collectively referred to herein as the \"Premises\"; TO HAVE AND TO HOLD the Premises hereby granted to the use, benefit and behalf of the Mortgagee, forever. EQUITY OF REDEMPTION Conditioned, however, that if Mortgagor shall promptly pay or cause to be paid to Mortgagee, at its address listed in the Note, or at such other place which may hereafter be designated by Mortgagee, its or their successors or assigns, with interest, the principal sum of [AMOUNT] with final maturity, if not sooner paid, as stated in said Note unless amended or extended according to the terms of the Note executed by Mortgagor and payable to the order of Mortgagee, then these presents shall cease and be void, otherwise these presents shall remain in full force and effect. COVENANTS OF MORTGAGOR Mortgagor covenants and agrees with Mortgagee as follows: Secured Indebtedness: This Mortgage is given as security for the Note and also as security for any and all other sums, indebtedness, obligations and liabilities of any and every kind arising, under the Note or this Mortgage, as amended or modified or supplemented from time to time, and any and all renewals, modifications or extensions of any or all of the foregoing (all of which are collectively referred to herein as the \"Secured Indebtedness\"), the entire Secured Indebtedness being equally secured with and having the same priority as any amounts owed at the date hereof. Performance of Note, Mortgage: Mortgagor shall perform, observe and comply with all provisions hereof and of the Note and shall promptly pay, in lawful money of [COUNTRY], to Mortgagee the Secured Indebtedness with interest thereon as provided in the Note, this Mortgage and all other documents constituting the Secured Indebtedness. Extent Of Payment Other Than Principal And Interest: Mortgagor shall pay, when due and payable, (1) all taxes, assessments, general or special, and other charges levied on, or assessed, placed or made against the Premises, this instrument or the Secured Indebtedness or any interest of the Mortgagee in the Premises or the obligations secured hereby; (2) premiums on policies of fire and other hazard insurance covering the Premises, as required herein; (3) ground rents or other lease rentals; and (4) other sums related to the Premises or the indebtedness secured hereby, if any, payable by Mortgagor. Insurance: Mortgagor shall, at its sole cost and expense, keep the Premises insured against all hazards as is customary and reasonable for properties of similar type and nature located in [CITY, STATE/PROVINCE]. Care of Property: Mortgagor shall maintain the Premises in good condition and repair and shall not commit or suffer any material waste to the Premises. ","Mortgage","4",50,"https://templates.business-in-a-box.com/imgs/1000px/mortgage-D1183.png","https://templates.business-in-a-box.com/imgs/250px/1183.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1183.xml",{"title":6,"description":6},[144,147],{"label":145,"url":146},"Real Estate","real-estate-business",{"label":148,"url":149},"Business Checklists","business-checklists","mortgage","/template/mortgage-D1183",{"description":153,"descriptionCustom":6,"label":154,"pages":155,"size":156,"extension":10,"preview":157,"thumb":158,"svgFrame":159,"seoMetadata":160,"parents":161,"keywords":165,"url":166},"SECURITY AGREEMENT This Security Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [SECURED PARTY NAME] (the \" Secured Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Debtor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] For value received, the undersigned Debtor, promises to pay to the order of [name], together with any other holder of this note (\"Secured Party\"), [amount], with interest at the rate of [%] per annum. Payment shall be made in successive equal monthly installments of [amount]. Each such Installment is payable on the [day] of each month, commencing on [date]. Recitals WHEREAS, the Secured Party has extended to the Debtor a certain loan as evidenced by a certain promissory note, in the original principal amount equal to [amount] dated on even date herewith (the \"Note\"); and WHEREAS, the Debtor wishes to grant a first priority security interest in and to all of the Debtor's tangible and intangible personal property pursuant to the terms hereof; NOW, THEREFORE, for and in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto covenant and agree as follows: DEFINITIONS The following terms shall have the meanings herein specified unless the context otherwise requires. Such definitions shall be equally applicable to the singular and plural forms of the terms defined: \"Contracts\" shall mean all contracts between the Debtor and one or more additional parties. \"Contract Rights\" shall mean all rights of the Debtor (including, without limitation, all rights to payment) under each Contract. \"Copyrights\" shall mean any [country] copyright to which the Debtor now or hereafter has title, as well as any application for a [country] copyright hereafter made by the Debtor. \"Equipment\" shall mean any \"equipment,\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by the Debtor and any and all additions, substitutions and replacements of, any of the foregoing, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. \"General Intangibles\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Goods\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Inventory\" shall mean all raw materials, workinprocess, and finished inventory of the Debtor of every type or description and all documents of title covering such inventory, and shall specifically include all \"inventory\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by the Debtor. \"Marks\" shall mean any trademarks and service marks now held or hereafter acquired by the Debtor, which are registered in the [country] Patent and Trademark Office, as well as any unregistered marks used by the Debtor in the [COUNTRY] and trade dress, including logos and/or designs, in connection with which any of these registered or unregistered marks are used. \"Obligations\" shall mean: (i) all indebtedness, obligations and liabilities (including, without limitation, guarantees and other contingent liabilities) of the Debtor to the Secured Party, including but not limited to the Note; (ii) any and all sums advanced by the Secured Party in order to preserve the Collateral or preserve its security interest in the Collateral; and (iii) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of the Debtor referred to in clause (i), after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys' fees and court costs. \"Patents\" shall mean any [country] patent to which the Debtor now or hereafter has title, as well as any application for a [country] patent now or hereafter made by Debtor. \"Proceeds\" shall have the meaning assigned that term under the [law or code] as in effect in the State of [state/province] on the date hereof or under other relevant law and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Secured Party or the Debtor from time to time with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. \"Receivables\" shall mean any \"account\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [STATE/PROVINCE], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all of the Debtor's rights to payment for goods sold or leased or services performed by the Debtor, whether now in existence or arising from time to time hereafter, including, without limitation, rights evidenced by an account, note, contract, security agreement, or other evidence of indebtedness or security, together with (i) all security pledged, assigned, hypothecated or granted to or held by the Debtor to secure the foregoing; (ii) all of the Debtor's right, title and interest in and to any goods, the sale of which gave rise thereto; (iii) all guarantees, endorsements and indemnifications on, or of, any of the foregoing; (iv) all powers of attorney for the execution of any evidence of indebtedness or security or other writing in connection therewith; (v) all books, records, ledger cards and invoices relating thereto; (vi) all evidences of the filing of financing statements and other statements and the registration of other instruments in connection therewith and amendments thereto, notices to other creditors or secured parties, and certificates from filing or other registration officers; (vii) all credit information, reports and memoranda relating thereto and (viii) all other writings related in any way to the foregoing. GRANT OF SECURITY INTEREST The Debtor does hereby grant to the Secured Party a continuing security interest of first priority in all of the right, title and interest of the Debtor in, to and under all of the following property whether now existing or hereafter created or arising: ","Security Agreement","10",96,"https://templates.business-in-a-box.com/imgs/1000px/security-agreement-D915.png","https://templates.business-in-a-box.com/imgs/250px/915.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#915.xml",{"title":6,"description":6},[162,164],{"label":35,"url":163},"business-legal-agreements",{"label":35,"url":163},"security agreement","/template/security-agreement-D915",{"description":168,"descriptionCustom":6,"label":169,"pages":90,"size":109,"extension":10,"preview":170,"thumb":171,"svgFrame":172,"seoMetadata":173,"parents":175,"keywords":174,"url":180},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":174,"description":6},"non disclosure agreement nda",[176,177],{"label":35,"url":163},{"label":178,"url":179},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",false,{"seo":183,"reviewer":196,"legal_disclaimer":200,"quick_facts":201,"at_a_glance":203,"personas":207,"variants":232,"glossary":258,"clauses":295,"how_to_fill":345,"common_mistakes":386,"faqs":411,"industries":442,"comparisons":467,"diy_vs_lawyer":480,"jurisdictions":493,"related_template_ids_curated":514,"schema":521,"classification":522},{"meta_title":184,"meta_description":185,"primary_keyword":186,"secondary_keywords":187},"Pledge of Personal Property Template | BIB","Free pledge of personal property template for securing loans with movable collateral. Covers collateral description, obligations, default, and remedies.","pledge of personal property template",[188,189,190,191,192,193,194,195],"personal property pledge agreement","pledge agreement template","collateral pledge agreement template","pledge of personal property form","personal property security agreement","pledge agreement template word","secured loan pledge template","collateral agreement template free",{"name":197,"credential":198,"reviewed_date":199},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":202,"legal_review_recommended":200,"signature_required":200,"notarization_required":181},"advanced",{"what_it_is":204,"when_you_need_it":205,"whats_inside":206},"A Pledge of Personal Property is a legally binding security agreement in which a debtor (the pledgor) grants a creditor (the pledgee) a security interest in specified movable personal property — such as equipment, inventory, vehicles, or financial instruments — as collateral for a loan or other obligation. This free Word download gives you a structured, attorney-ready starting point you can edit online and export as PDF to execute alongside a promissory note or loan agreement.\n","Use it whenever a lender requires collateral before extending credit and the security is movable personal property rather than real estate. Common triggers include business equipment financing, inventory-backed loans, pledging shares or securities, and intra-company or related-party lending arrangements that need a formal security structure.\n","Identification of the pledgor and pledgee, a precise description of the pledged collateral, the secured obligation it supports, delivery and possession terms, the pledgor's representations and covenants, events of default, the pledgee's remedies upon default, release conditions, and governing law.\n",[208,212,216,220,224,228],{"title":209,"use_case":210,"icon_asset_id":211},"Small business owners","Pledging equipment or inventory to secure a working capital loan","persona-small-business-owner",{"title":213,"use_case":214,"icon_asset_id":215},"Startup founders","Offering company assets or founder-owned property as collateral for seed financing","persona-startup-founder",{"title":217,"use_case":218,"icon_asset_id":219},"Private lenders and investors","Documenting a security interest in personal property before advancing funds","persona-private-lender",{"title":221,"use_case":222,"icon_asset_id":223},"Commercial lenders and credit officers","Formalizing collateral arrangements for business term loans or lines of credit","persona-financial-advisor",{"title":225,"use_case":226,"icon_asset_id":227},"Corporate treasury teams","Pledging securities or financial assets as collateral for intercompany lending","persona-cfo",{"title":229,"use_case":230,"icon_asset_id":231},"Attorneys and paralegals","Drafting or adapting pledge agreements for client financing transactions","persona-attorney",[233,237,241,245,249,252,255],{"situation":234,"recommended_template":235,"slug":236},"Pledging shares or stock certificates as loan collateral","Stock Pledge Agreement","pledge-of-shares-of-stock-D407",{"situation":238,"recommended_template":239,"slug":240},"Securing a loan against business equipment or machinery","Equipment Security Agreement","remote-work-equipment-and-security-policy-D13763",{"situation":242,"recommended_template":243,"slug":244},"Creating a broad security interest over all business assets","General Security Agreement","security-agreement-D915",{"situation":246,"recommended_template":247,"slug":248},"Pledging real estate or land as collateral","Mortgage Agreement","mortgage-D1183",{"situation":250,"recommended_template":89,"slug":251},"Documenting the underlying loan the pledge secures","promissory-note-D434",{"situation":253,"recommended_template":108,"slug":254},"Structuring a full secured lending arrangement with multiple collateral types","loan-agreement-D417",{"situation":256,"recommended_template":122,"slug":257},"Pledging personal assets to guarantee a business obligation","personal-guarantee-D405",[259,262,265,268,271,274,277,280,283,286,289,292],{"term":260,"definition":261},"Pledgor","The party who owns the personal property and grants a security interest in it to the pledgee as collateral for an obligation.",{"term":263,"definition":264},"Pledgee","The party (typically a lender or creditor) who receives the security interest in the pledged property and holds rights to it upon default.",{"term":266,"definition":267},"Security Interest","A legal right granted by a debtor to a creditor over property, allowing the creditor to take or sell the property if the debt is not repaid.",{"term":269,"definition":270},"Collateral","The specific personal property pledged by the debtor to secure repayment of a loan or performance of an obligation.",{"term":272,"definition":273},"Perfection","The legal process — typically filing a financing statement (UCC-1) or taking possession — by which a secured party's interest becomes enforceable against third parties and other creditors.",{"term":275,"definition":276},"UCC-1 Financing Statement","A public filing made under the Uniform Commercial Code that notifies other creditors that a security interest exists in specified personal property.",{"term":278,"definition":279},"Default","A triggering event — such as missed payment, insolvency, or breach of a covenant — that entitles the pledgee to exercise remedies against the collateral.",{"term":281,"definition":282},"Foreclosure (on Personal Property)","The pledgee's process of taking and selling the pledged collateral after default to recover the outstanding debt, typically governed by UCC Article 9 in the US.",{"term":284,"definition":285},"Secured Obligation","The underlying debt, loan, or performance obligation that the pledge agreement is designed to secure and enforce.",{"term":287,"definition":288},"Release of Pledge","The pledgee's formal written discharge of the security interest upon full repayment or satisfaction of the secured obligation.",{"term":290,"definition":291},"Recourse","The pledgee's right to pursue the pledgor personally for any remaining debt balance not recovered through sale of the collateral.",{"term":293,"definition":294},"After-Acquired Property","Property acquired by the pledgor after the pledge agreement is executed that, if specified in the agreement, automatically becomes part of the collateral pool.",[296,301,306,310,315,320,325,330,335,340],{"name":297,"plain_english":298,"sample_language":299,"common_mistake":300},"Parties and Recitals","Identifies the pledgor and pledgee by full legal name and entity type, and briefly describes the purpose and context of the pledge.","This Pledge of Personal Property Agreement ('Agreement') is entered into as of [DATE] between [PLEDGOR FULL LEGAL NAME], a [STATE] [ENTITY TYPE] ('Pledgor'), and [PLEDGEE FULL LEGAL NAME], a [STATE] [ENTITY TYPE] ('Pledgee'). Pledgor desires to pledge certain personal property to secure [DESCRIPTION OF OBLIGATION].","Using a trade name instead of the pledgor's registered legal entity name. If the pledgor is a corporation or LLC, the legal entity — not the DBA — must be named, or the security interest may be unperfectable against the correct debtor.",{"name":302,"plain_english":303,"sample_language":304,"common_mistake":305},"Description of Pledged Collateral","Precisely identifies the specific personal property being pledged — by make, model, serial number, quantity, or other distinguishing characteristics — so the collateral is unambiguous.","Pledgor hereby pledges and grants to Pledgee a security interest in the following personal property ('Collateral'): [DESCRIPTION OF PROPERTY, e.g., one (1) 2023 [MAKE/MODEL] forklift, serial number [XXXXXXXX]; [X] units of [INVENTORY DESCRIPTION] located at [ADDRESS]].","Describing collateral in vague categories like 'all equipment.' Courts and registries require enough specificity to identify the actual property; overly generic descriptions can invalidate the security interest against competing creditors.",{"name":284,"plain_english":307,"sample_language":308,"common_mistake":309},"States the exact obligation — loan amount, promissory note reference, or other duty — that the pledge is intended to secure, so the scope of the security interest is clear.","This Pledge secures Pledgor's obligations under that certain Promissory Note dated [DATE] in the original principal amount of $[AMOUNT] ('Note'), together with all interest, fees, and costs payable thereunder.","Failing to cross-reference the underlying loan or note document by date and amount. Without this link, disputes arise about which obligations the pledge actually covers, especially if the pledgor has multiple debts to the same creditor.",{"name":311,"plain_english":312,"sample_language":313,"common_mistake":314},"Delivery and Possession of Collateral","Specifies whether the pledgee takes physical possession of the collateral immediately or whether the pledgor retains possession subject to the pledgee's perfected security interest.","Pledgor shall [deliver physical possession of the Collateral to Pledgee on [DATE] / retain possession of the Collateral at [ADDRESS] subject to Pledgee's perfected security interest]. Pledgor shall not remove the Collateral from [LOCATION] without Pledgee's prior written consent.","Omitting the possession arrangement entirely. For tangible property, possession by the pledgee is one method of perfecting the security interest without a UCC filing — choosing the wrong method, or specifying neither, leaves the security interest unperfected.",{"name":316,"plain_english":317,"sample_language":318,"common_mistake":319},"Pledgor's Representations and Warranties","The pledgor confirms that they own the collateral free and clear of other liens, have authority to pledge it, and that the collateral description is accurate and complete.","Pledgor represents and warrants that: (a) Pledgor has good and marketable title to the Collateral, free and clear of all liens, encumbrances, and adverse claims except as disclosed in Schedule A; (b) Pledgor has full legal authority to enter into this Agreement; (c) the Collateral is in good operating condition.","Omitting a representation about prior liens. A pledgee who later discovers the collateral was already encumbered by a prior security interest may find their interest subordinate, with no contractual recourse for the misrepresentation.",{"name":321,"plain_english":322,"sample_language":323,"common_mistake":324},"Pledgor's Covenants","Ongoing obligations the pledgor must maintain during the pledge period — such as insuring the collateral, keeping it in good repair, not selling or encumbering it further, and allowing pledgee inspections.","During the term of this Agreement, Pledgor covenants that it shall: (a) maintain the Collateral in good repair; (b) keep the Collateral insured against loss or damage for not less than $[AMOUNT] naming Pledgee as loss payee; (c) not sell, transfer, or further encumber the Collateral without Pledgee's prior written consent; (d) permit Pledgee to inspect the Collateral upon [X] days' written notice.","Omitting an insurance covenant. If the collateral is destroyed and the pledgee is not named as loss payee, the pledgee has no claim against insurance proceeds and may be left with worthless security.",{"name":326,"plain_english":327,"sample_language":328,"common_mistake":329},"Events of Default","Lists specific triggering events — including missed payments, insolvency, breach of covenants, and material misrepresentation — that entitle the pledgee to exercise remedies.","Each of the following constitutes an Event of Default: (a) Pledgor's failure to pay any amount due under the Note within [X] days of the due date; (b) Pledgor becomes insolvent or commences bankruptcy proceedings; (c) Pledgor breaches any covenant in this Agreement and fails to cure within [X] days of written notice; (d) any representation made by Pledgor proves materially false.","Relying solely on payment default and omitting covenant or insolvency triggers. A pledgor who stops insuring the collateral, encumbers it with a new lien, or files for bankruptcy can destroy the value of the security before a missed payment ever occurs.",{"name":331,"plain_english":332,"sample_language":333,"common_mistake":334},"Remedies Upon Default","Describes what the pledgee can do after a default — including taking possession, selling the collateral, and applying proceeds to the outstanding debt — and the notice requirements for doing so.","Upon an Event of Default, Pledgee may, without further notice except as required by applicable law: (a) take immediate possession of the Collateral; (b) sell the Collateral at public or private sale; (c) apply the net proceeds of sale to the outstanding secured obligations, with any surplus remitted to Pledgor and any deficiency remaining Pledgor's personal obligation.","Waiving the commercially reasonable sale requirement. UCC Article 9 (and equivalent statutes) require the pledgee to conduct any collateral sale in a commercially reasonable manner — a clause purporting to waive this standard is likely unenforceable and can expose the pledgee to damages.",{"name":336,"plain_english":337,"sample_language":338,"common_mistake":339},"Release of Pledge and Termination","States the conditions under which the pledge is discharged — typically full payment of the secured obligation — and requires the pledgee to file a UCC-3 termination statement or return possession.","Upon payment in full of all secured obligations, Pledgee shall promptly execute and deliver a release of this Pledge and, if applicable, file a UCC-3 Termination Statement within [X] business days. This Agreement shall thereupon terminate and be of no further force or effect.","No obligation on the pledgee to terminate a UCC filing after repayment. An uncancelled UCC-1 financing statement remains on the public record and can block the pledgor's future financing, creating liability for the pledgee in many jurisdictions.",{"name":341,"plain_english":342,"sample_language":343,"common_mistake":344},"Governing Law and Dispute Resolution","Specifies which jurisdiction's law governs the agreement and how disputes will be resolved — court litigation, arbitration, or mediation.","This Agreement shall be governed by the laws of the State of [STATE], without regard to conflict-of-law principles. Any dispute arising hereunder shall be resolved by binding arbitration in [CITY, STATE] under the rules of [AAA / JAMS], except that Pledgee may seek injunctive or equitable relief in any court of competent jurisdiction.","Choosing a governing state that has no connection to either party or the collateral's location. Courts in the state where the collateral is located may apply local UCC rules regardless of a contractual choice-of-law clause.",[346,351,356,361,366,371,376,381],{"step":347,"title":348,"description":349,"tip":350},1,"Identify both parties with their full legal names","Enter the pledgor's and pledgee's complete registered legal names and entity types. For individuals, use full legal name and address. For entities, use the name exactly as it appears on the state registration or corporate charter.","Search the relevant state's Secretary of State database to confirm the exact legal name before drafting — a single-word discrepancy can make a UCC filing defective.",{"step":352,"title":353,"description":354,"tip":355},2,"Describe the collateral with specific identifying details","List every item of pledged property with enough detail to distinguish it from similar property — serial numbers for equipment, VINs for vehicles, CUSIP numbers for securities, or SKUs and quantities for inventory.","Attach a Schedule A for complex or lengthy collateral lists rather than embedding everything in the body clause — this makes updates or partial releases cleaner to document.",{"step":357,"title":358,"description":359,"tip":360},3,"Reference the secured obligation precisely","Identify the underlying debt by instrument type (promissory note, loan agreement), execution date, and principal amount. Include a reference to accrued interest and fees to ensure the full obligation is secured.","If the pledge secures a revolving line of credit rather than a fixed-amount note, include language covering 'all present and future advances' up to a stated maximum to avoid gaps in coverage.",{"step":362,"title":363,"description":364,"tip":365},4,"Decide on possession and specify the collateral's location","Determine whether the pledgee will take physical possession (required to perfect a pledge of negotiable instruments or certificated securities without a UCC filing) or whether the pledgor retains possession at a stated address. Document the chosen arrangement clearly.","For high-value equipment the pledgor needs to operate, pledgor-retained possession with a perfected UCC-1 filing is the standard commercial approach — confirm the filing jurisdiction based on the pledgor's state of organization.",{"step":367,"title":368,"description":369,"tip":370},5,"Complete the representations, warranties, and covenants","Have the pledgor confirm clean title, absence of prior liens, and authority to pledge. Then tailor the ongoing covenants — insurance minimums, maintenance obligations, and transfer restrictions — to the specific collateral type and loan size.","Set the insurance coverage requirement at replacement value, not book value, for equipment collateral — outdated book values can leave the pledgee significantly underprotected.",{"step":372,"title":373,"description":374,"tip":375},6,"Define events of default and cure periods","List every default trigger relevant to the transaction — payment default, covenant breach, insolvency, and material misrepresentation. Set cure periods (typically 5–15 days for payment, 30 days for cure of other breaches) that are realistic but protect the pledgee.","Include a cross-default clause if the pledgor has other obligations to the pledgee — a default under a separate facility should trigger this pledge as well.",{"step":377,"title":378,"description":379,"tip":380},7,"Sign, date, and file the UCC-1 financing statement","Both parties sign the pledge agreement on or before the loan funding date. The pledgee then files a UCC-1 financing statement in the pledgor's state of organization (or the state where the collateral is located for fixture filings) to perfect the security interest against third parties.","File the UCC-1 within 20 days of the pledge to preserve priority from the date of the agreement rather than the date of filing in most US states.",{"step":382,"title":383,"description":384,"tip":385},8,"Calendar the release obligation and store executed originals","Note the pledgee's obligation to file a UCC-3 termination statement within the agreed period after full repayment. Store the executed original pledge agreement and all filings in your document management system.","Set a calendar reminder for the UCC-1 lapse date (5 years from filing in most US states) so a continuation statement is filed before expiry if the loan is still outstanding.",[387,391,395,399,403,407],{"mistake":388,"why_it_matters":389,"fix":390},"Failing to perfect the security interest with a UCC-1 filing","An unperfected security interest is enforceable between the parties but provides no priority against the pledgor's other creditors or a bankruptcy trustee — leaving the pledgee as an unsecured creditor if the pledgor becomes insolvent.","File a UCC-1 financing statement in the correct jurisdiction within 20 days of signing. For corporate pledgors, file in the state of organization; for individuals, file in the state of residence.",{"mistake":392,"why_it_matters":393,"fix":394},"Describing collateral too vaguely","A description like 'all machinery and equipment' without serial numbers or location may fail a UCC sufficiency test, invalidating the security interest against third-party creditors who challenge it.","Identify each pledged asset by its specific characteristics — serial number, VIN, model, or precise inventory description — and attach a numbered Schedule A for complex collateral lists.",{"mistake":396,"why_it_matters":397,"fix":398},"Not naming the pledgee as loss payee on the collateral's insurance policy","If the collateral is destroyed or stolen and the pledgee is not named as loss payee, the insurance proceeds go to the pledgor — leaving the pledgee with no security and no automatic claim against the payout.","Require the pledgor to add the pledgee as loss payee and additional insured within a specified number of days of signing, and obtain a certificate of insurance as a condition of funding.",{"mistake":400,"why_it_matters":401,"fix":402},"Omitting a cross-default clause when multiple obligations exist","Without cross-default language, a pledgor can default on a related facility while remaining technically current under the pledge — allowing them to strip or dissipate the collateral before the pledgee can act.","Include a cross-default provision stating that default under any other agreement between the parties constitutes an Event of Default under this pledge as well.",{"mistake":404,"why_it_matters":405,"fix":406},"No obligation on the pledgee to release the UCC filing after repayment","An uncancelled UCC-1 stays on the public record for five years and appears in lien searches, blocking the former pledgor from obtaining new financing even after the debt is fully repaid.","Include a clause requiring the pledgee to file a UCC-3 Termination Statement within 10–20 business days of full repayment, with a right for the pledgor to file one independently if the pledgee fails to act.",{"mistake":408,"why_it_matters":409,"fix":410},"Signing the pledge agreement after funds have already been advanced","In several jurisdictions, a security interest granted after the loan is funded may be treated as a preferential transfer and avoided by a bankruptcy trustee if the pledgor files within 90 days (US) or a comparable clawback period.","Execute the pledge agreement and file the UCC-1 before or simultaneously with the disbursement of funds so the security interest attaches on the funding date.",[412,415,418,421,424,427,430,433,436,439],{"question":413,"answer":414},"What is a pledge of personal property?","A pledge of personal property is a security agreement in which a debtor (the pledgor) grants a creditor (the pledgee) a legal interest in specified movable property — such as equipment, inventory, vehicles, or securities — as collateral for a loan or other obligation. If the debtor defaults, the creditor can take and sell the pledged property to recover the outstanding debt. Unlike a mortgage, which covers real estate, a personal property pledge covers movable assets governed by commercial law such as UCC Article 9 in the United States.\n",{"question":416,"answer":417},"What is the difference between a pledge and a mortgage?","A mortgage creates a security interest in real property — land and buildings — and is governed by real estate law, requiring recording in a county deed registry. A pledge of personal property creates a security interest in movable assets and is typically governed by personal property security legislation (UCC Article 9 in the US, PPSA in Canada). The perfection mechanism also differs: mortgages are perfected by recording; personal property pledges are perfected by UCC filing or physical possession depending on the asset type.\n",{"question":419,"answer":420},"How do I perfect a security interest created by a pledge agreement?","In the United States, perfection of a security interest in most personal property is achieved by filing a UCC-1 financing statement in the correct state — typically the pledgor's state of organization for entities, or state of residence for individuals. For certain asset types — certificated securities, negotiable instruments, and deposit accounts — perfection requires the pledgee to take possession or control rather than filing. Filing should occur within 20 days of the pledge to preserve priority from the agreement date.\n",{"question":422,"answer":423},"Does a pledge of personal property need to be notarized?","Notarization is generally not required for a pledge of personal property to be enforceable between the parties in most US states and Canadian provinces. However, some states require notarization for the pledge to be recorded or to be effective against third parties in specific asset categories. Consider confirming local requirements with a licensed attorney before execution, particularly for high-value transactions or when the pledgor is an individual rather than a business entity.\n",{"question":425,"answer":426},"What happens to the pledged property if the debtor defaults?","Upon an event of default, the pledgee is typically entitled to take possession of the collateral and sell it — either at a public auction or private sale — in a commercially reasonable manner as required by UCC Article 9. The net proceeds are applied first to the costs of sale, then to the outstanding debt. Any surplus must be returned to the pledgor. If the sale proceeds do not cover the full debt, the pledgee may have recourse against the pledgor personally for the deficiency, depending on the agreement and applicable law.\n",{"question":428,"answer":429},"Can an individual pledge personal property, or is this only for businesses?","Both individuals and business entities can be pledgors under a personal property pledge agreement. Individuals often pledge vehicles, equipment, or financial instruments to secure personal or business loans. When an individual pledges property, the UCC-1 filing is typically made in the state of the individual's principal residence rather than a state of organization. Some lenders also require a personal guarantee alongside the pledge when the pledgor is a business entity.\n",{"question":431,"answer":432},"What is the difference between a pledge agreement and a personal guarantee?","A pledge agreement secures a debt with specific collateral — the creditor's recourse is primarily against the pledged property. A personal guarantee is an unsecured personal promise by an individual to repay the debt if the primary borrower defaults, with recourse against the guarantor's general assets rather than specific property. Many lending transactions use both: a pledge agreement for asset-backed security and a personal guarantee as an additional layer of recourse. The two documents serve complementary rather than overlapping functions.\n",{"question":434,"answer":435},"How long does a UCC-1 financing statement remain effective?","A UCC-1 financing statement is effective for five years from the date of filing in most US states. Before the five-year period expires, the secured party must file a UCC-3 Continuation Statement to extend effectiveness for another five years. If no continuation is filed, the financing statement lapses and the security interest loses its perfected status — meaning the pledgee loses priority against other creditors and a bankruptcy trustee. Calendar reminders should be set well before the lapse date for any long-term pledge arrangement.\n",{"question":437,"answer":438},"Is a pledge of personal property the same as a security agreement under UCC Article 9?","A pledge of personal property is one form of security agreement governed by UCC Article 9. Article 9 covers all consensual security interests in personal property, including pledges, chattel mortgages, and floating liens. A traditional pledge historically required the pledgee to take possession of the collateral, but under modern UCC Article 9, filing a financing statement is the standard method of perfection for most personal property, allowing the pledgor to retain possession and use the asset while the security interest remains enforceable.\n",{"question":440,"answer":441},"Should I use a pledge of personal property alongside a promissory note?","Yes — in most lending transactions, these two documents work together. The promissory note documents the loan terms, repayment schedule, and interest rate, creating the primary payment obligation. The pledge of personal property creates the security interest that backs up the note with specific collateral. Without the pledge, the promissory note is an unsecured obligation; without the note, the pledge has no defined secured obligation to reference. Both should be executed simultaneously on or before the loan funding date.\n",[443,447,451,455,459,463],{"industry":444,"icon_asset_id":445,"specifics":446},"Manufacturing and Equipment","industry-manufacturing","Equipment pledges are the most common form in this sector — lenders require serial-number-level collateral descriptions and insurance naming requirements covering replacement value, not depreciated book value.",{"industry":448,"icon_asset_id":449,"specifics":450},"Retail and Wholesale Distribution","industry-retail","Inventory-backed pledge agreements require after-acquired property clauses and periodic collateral audits, since inventory turns over continuously and the specific assets change from day to day.",{"industry":452,"icon_asset_id":453,"specifics":454},"Financial Services and Private Lending","industry-fintech","Securities pledge agreements for stock or bond portfolios require control agreements with the custodian or broker-dealer in addition to a UCC filing to achieve perfection under UCC Article 8.",{"industry":456,"icon_asset_id":457,"specifics":458},"Construction and Contracting","industry-construction","Heavy equipment pledges are standard for construction financing; lenders must coordinate with any existing equipment finance liens and confirm priority through UCC searches before funding.",{"industry":460,"icon_asset_id":461,"specifics":462},"Professional Services","industry-professional-services","Smaller professional firms pledging office equipment or receivables often use simplified pledge structures; accounts receivable pledges require separate notice to account debtors and specific UCC filing language.",{"industry":464,"icon_asset_id":465,"specifics":466},"Agriculture","industry-agriculture","Agricultural equipment and livestock pledges may require state-specific filings beyond a standard UCC-1, and certain states have dedicated agricultural lien statutes that interact with Article 9 priority rules.",[468,471,474,477],{"vs":122,"vs_template_id":469,"summary":470},"personal-guarantee-D408","A personal guarantee is an unsecured promise by an individual to repay a debt if the primary obligor defaults, giving the creditor recourse against the guarantor's general assets. A pledge of personal property creates a security interest in specific collateral, giving the creditor a priority claim against defined assets rather than general recourse. Most secured lending arrangements use both documents together for maximum protection.",{"vs":89,"vs_template_id":472,"summary":473},"promissory-note-D407","A promissory note is the primary debt instrument — it records the loan amount, interest rate, and repayment schedule and creates the payment obligation. A pledge of personal property is the ancillary security document that backs up the note with collateral. The note defines what is owed; the pledge determines what happens to specific assets if the note is not paid.",{"vs":108,"vs_template_id":475,"summary":476},"loan-agreement-D405","A loan agreement is a comprehensive contract governing all terms of a lending relationship — representations, covenants, conditions precedent, events of default, and remedies. A pledge of personal property is a standalone security document that can operate independently or as a schedule to a broader loan agreement. Simple transactions may use just a promissory note and a pledge; complex facilities use a full loan agreement with the pledge attached.",{"vs":247,"vs_template_id":478,"summary":479},"mortgage-agreement-D12785","A mortgage creates a security interest in real property and is perfected by recording with the county deed registry under real estate law. A pledge of personal property covers movable assets and is perfected by UCC filing or possession under commercial law. The correct document depends entirely on whether the collateral is real estate or movable personal property — using the wrong form leaves the security interest unenforceable.",{"use_template":481,"template_plus_review":485,"custom_drafted":489},{"best_for":482,"cost":483,"time":484},"Straightforward small business loans with clearly identified tangible personal property collateral in a single US state or Canadian province","Free","30–60 minutes",{"best_for":486,"cost":487,"time":488},"Loans over $50,000, multi-state collateral, securities or account pledges, or transactions where priority against other creditors is critical","$400–$900 for an attorney review and UCC filing guidance","2–4 days",{"best_for":490,"cost":491,"time":492},"Complex commercial lending, cross-border transactions, floating liens over all business assets, or any pledge that is part of a syndicated or institutional financing","$2,000–$8,000+ depending on transaction complexity","1–3 weeks",[494,499,504,509],{"code":495,"name":496,"flag_asset_id":497,"note":498},"us","United States","flag-us","Personal property security interests in the US are governed by UCC Article 9, enacted in all 50 states with minor variations. Perfection for most collateral requires filing a UCC-1 financing statement in the state where a corporate pledgor is organized or an individual pledgor resides. Certificated securities and deposit accounts require control agreements for perfection. California, New York, and Texas have notable procedural variations; California's deficiency rules after collateral sale are among the most debtor-favorable in the country.",{"code":500,"name":501,"flag_asset_id":502,"note":503},"ca","Canada","flag-ca","Each Canadian province has its own Personal Property Security Act (PPSA), modeled loosely on UCC Article 9 but with significant provincial differences. Ontario, British Columbia, and Alberta are the most commercially active PPSA regimes. Registration is made in the province where the debtor is located or incorporated. Quebec operates under the Civil Code rather than the PPSA, and personal property security in Quebec requires a hypothec published in the Register of Personal and Movable Real Rights (RPMRR). Cross-provincial transactions require careful analysis of which jurisdiction's PPSA governs.",{"code":505,"name":506,"flag_asset_id":507,"note":508},"uk","United Kingdom","flag-uk","In England and Wales, a pledge over personal property by a company typically requires registration at Companies House under the Companies Act 2006 within 21 days of creation to be effective against a liquidator or third parties. Fixed charges over specific assets and floating charges over a class of assets are the standard commercial structures. Scotland has a distinct legal system for security over moveables. Post-Brexit, the UK has diverged from EU financial collateral regulations, so cross-border EU-UK pledges require separate legal analysis.",{"code":510,"name":511,"flag_asset_id":512,"note":513},"eu","European Union","flag-eu","The EU Financial Collateral Arrangements Directive (2002/47/EC) provides a harmonized framework for pledges over financial instruments and credit claims, but general personal property security law remains a matter of individual member state law with significant variation. France uses the nantissement for tangible movables; Germany uses the Pfandrecht and Sicherungsübereignung (security transfer of title). The GDPR may apply where the collateral description includes personal data. Cross-border EU transactions should specify governing law clearly, as Rome I Regulation choice-of-law rules apply.",[251,254,257,248,244,244,515,516,517,518,519,520],"non-disclosure-agreement-nda-D12692","letter-of-default-on-promissory-note-D431","secured-lumpsum-promissory-note-agreement-D13041","demand-for-extension-of-payment-date-D444","release-of-liability-waiver-D12892","non-profit-partnership-agreement-D14023",{"emit_how_to":200,"emit_defined_term":200},{"primary_folder":163,"secondary_folder":523,"document_type":524,"industry":525,"business_stage":526,"tags":527,"confidence":533},"guaranties-and-collateral","agreement","general","all-stages",[528,529,530,531,532],"loan","security-agreement","collateral","personal-property","pledge",0.95,"\u003Ch2>What is a Pledge of Personal Property?\u003C/h2>\n\u003Cp>A \u003Cstrong>Pledge of Personal Property\u003C/strong> is a legally binding security agreement in which a debtor (the pledgor) grants a creditor (the pledgee) a security interest in specified movable assets — such as equipment, vehicles, inventory, or financial instruments — as collateral for a loan or other obligation. Unlike a mortgage, which encumbers real estate, a pledge covers tangible and intangible personal property governed by commercial statutes such as UCC Article 9 in the United States and equivalent Personal Property Security Acts in Canada. The agreement defines the collateral with precision, links the security interest to the underlying debt, and establishes what happens to the pledged assets if the debtor fails to perform. When properly executed and perfected through a UCC-1 financing statement or physical delivery, the pledge gives the creditor a priority claim against the collateral that survives the debtor's insolvency and holds up against competing creditors.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Extending credit without a pledge agreement means your only recourse on default is an unsecured judgment — placing you at the back of the line behind secured creditors in any insolvency proceeding. A properly drafted and perfected pledge of personal property changes that position fundamentally: it gives the pledgee a first-priority claim against specific assets, the right to take possession on default, and the authority to sell the collateral and apply proceeds to the outstanding debt. Without it, even a signed promissory note leaves the lender exposed if the borrower files for bankruptcy, transfers assets to related parties, or allows the collateral to be seized by a tax authority. For borrowers, the pledge creates a clear framework that avoids creditor disputes by defining exactly which assets are encumbered and under what conditions they can be recovered. This template gives both parties a structured, attorney-ready starting point that covers every material provision — from collateral description and possession terms to default triggers and release obligations — so neither side is left guessing about their rights when it matters most.\u003C/p>\n",1778696350105]