[{"data":1,"prerenderedAt":533},["ShallowReactive",2],{"document-security-agreement-D915":3},{"document":4,"label":21,"preview":11,"thumb":22,"thumb600":23,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":24,"breadcrumb":28,"related":34,"customDescModule":182,"customdescription":6,"mdFm":183,"mdProseHtml":532},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":20},"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: ",null,"Security Agreement","10",96,"doc","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},[16,19],{"label":17,"url":18},"Legal Agreements","/templates/business-legal-agreements/",{"label":17,"url":18},"security agreement","Security Agreement Template","https://templates.business-in-a-box.com/imgs/400px/915.png","https://templates.business-in-a-box.com/imgs/600px/915.png",[25,16,19],{"label":26,"url":27},"Templates","/templates/",[29,30,31],{"label":26,"url":27},{"label":17,"url":18},{"label":32,"url":33},"Guaranties & Collateral","/templates/guaranties-and-collateral/",[35,39,43,47,51,55,59,63,67,71,75,79,83,104,120,135,149,167],{"label":36,"url":37,"thumb":38,"extension":10},"Security Agreement With Copyright As Collateral","/template/security-agreement-with-copyright-as-collateral-D914","https://templates.business-in-a-box.com/imgs/250px/914.png",{"label":40,"url":41,"thumb":42,"extension":10},"Security Agreement and Promissory Note","/template/security-agreement-and-promissory-note-D912","https://templates.business-in-a-box.com/imgs/250px/912.png",{"label":44,"url":45,"thumb":46,"extension":10},"Security Agreement Covering Consumer Goods","/template/security-agreement-covering-consumer-goods-D913","https://templates.business-in-a-box.com/imgs/250px/913.png",{"label":48,"url":49,"thumb":50,"extension":10},"Cyber Security Audit Agreement","/template/cyber-security-audit-agreement-D13513","https://templates.business-in-a-box.com/imgs/250px/13513.png",{"label":52,"url":53,"thumb":54,"extension":10},"Network Security Policy","/template/network-security-policy-D14013","https://templates.business-in-a-box.com/imgs/250px/14013.png",{"label":56,"url":57,"thumb":58,"extension":10},"Organizational Security Policy","/template/organizational-security-policy-D14025","https://templates.business-in-a-box.com/imgs/250px/14025.png",{"label":60,"url":61,"thumb":62,"extension":10},"Personnel Security Policy","/template/personnel-security-policy-D14029","https://templates.business-in-a-box.com/imgs/250px/14029.png",{"label":64,"url":65,"thumb":66,"extension":10},"Physical Security Policy","/template/physical-security-policy-D14032","https://templates.business-in-a-box.com/imgs/250px/14032.png",{"label":68,"url":69,"thumb":70,"extension":10},"Security Policy","/template/security-policy-D12645","https://templates.business-in-a-box.com/imgs/250px/12645.png",{"label":72,"url":73,"thumb":74,"extension":10},"Content Security Policy","/template/content-security-policy-D13937","https://templates.business-in-a-box.com/imgs/250px/13937.png",{"label":76,"url":77,"thumb":78,"extension":10},"Cyber Security Policy","/template/cyber-security-policy-D12867","https://templates.business-in-a-box.com/imgs/250px/12867.png",{"label":80,"url":81,"thumb":82,"extension":10},"Data Security Policy","/template/data-security-policy-D12735","https://templates.business-in-a-box.com/imgs/250px/12735.png",{"description":84,"descriptionCustom":6,"label":85,"pages":86,"size":87,"extension":10,"preview":88,"thumb":89,"svgFrame":90,"seoMetadata":91,"parents":92,"keywords":102,"url":103},"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},[93,96,99],{"label":94,"url":95},"Finance & Accounting","finance-accounting",{"label":97,"url":98},"Business Loans","business-loan",{"label":100,"url":101},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":105,"descriptionCustom":6,"label":106,"pages":107,"size":108,"extension":10,"preview":109,"thumb":110,"svgFrame":111,"seoMetadata":112,"parents":114,"keywords":118,"url":119},"SPEAKER AGREEMENT This Speaker Agreement (the \"Agreement\") is entered into effect as of [DATE], BETWEEN: [EVENT ORGANIZER NAME], (\"Organizer\"), an individual with their 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: [SPEAKER NAME], (\"Speaker\") a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Organizer is hosting an event (the \"Event\") and desires to engage the Speaker to deliver a presentation or speech (the \"Presentation\") at the Event; WHEREAS, the Speaker possesses the necessary expertise and experience to provide the Presentation; WHEREAS, the Parties desire to enter into an Agreement to define the terms and conditions of the Speaker's participation in the Event; NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties agree as follows: SERVICES 1.1 Presentation: The Speaker agrees to deliver the Presentation at the Event on the date(s) and time(s) specified in Exhibit A attached hereto. 1.2 Topic and Content: The Speaker shall develop and deliver the Presentation based on the agreed-upon topic and content, as discussed and approved by the Organizer. The Speaker shall ensure that the Presentation is informative, engaging, and relevant to the theme and objectives of the Event. 1.3 Availability: The Speaker shall be available for reasonable communication and coordination with the Organizer prior to the Event to discuss the Presentation and any related matters. COMPENSATION AND EXPENSES 2.1 Fees: In consideration for the Speaker's services, the Organizer shall pay the Speaker the fees specified in Exhibit A. Payment shall be made within [NUMBER OF DAYS] days after the completion of the Presentation. 2.2 Travel and Accommodation: If the Event requires the Speaker to travel, the Organizer shall be responsible for arranging and covering reasonable travel expenses, including transportation, accommodation, and meals, in accordance with the Organizer's travel policy. The specific details of the travel arrangements and reimbursement procedure shall be agreed upon in writing between the Parties. INTELLECTUAL PROPERTY 3.1 Ownership: The Speaker represents and warrants that the Presentation and any accompanying materials provided by the Speaker (the \"Materials\") are original works created by the Speaker, and the Speaker owns or has obtained all necessary rights, licenses, and permissions to use and share the Presentation and Materials at the Event. 3.2 License: The Speaker grants the Organizer a non-exclusive, worldwide, royalty-free license to use, reproduce, display, and distribute the Presentation and Materials in connection with the Event, including promotional materials and recordings of the Event. PROMOTION AND MARKETING 4","Speaker Agreement","6",513,"https://templates.business-in-a-box.com/imgs/1000px/speaker-agreement-D13530.png","https://templates.business-in-a-box.com/imgs/250px/13530.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13530.xml",{"title":113,"description":6},"speaker agreement",[115,117],{"label":17,"url":116},"business-legal-agreements",{"label":17,"url":116},"loan agreement","/template/loan-agreement-D13530",{"description":121,"descriptionCustom":6,"label":122,"pages":123,"size":108,"extension":10,"preview":124,"thumb":125,"svgFrame":126,"seoMetadata":127,"parents":129,"keywords":128,"url":134},"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","2","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":128,"description":6},"personal guarantee",[130,131,132],{"label":94,"url":95},{"label":97,"url":98},{"label":32,"url":133},"guaranties-collateral","/template/personal-guarantee-D405",{"description":136,"descriptionCustom":6,"label":137,"pages":86,"size":108,"extension":10,"preview":138,"thumb":139,"svgFrame":140,"seoMetadata":141,"parents":143,"keywords":142,"url":148},"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":142,"description":6},"non disclosure agreement nda",[144,145],{"label":17,"url":116},{"label":146,"url":147},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":150,"descriptionCustom":6,"label":151,"pages":152,"size":153,"extension":10,"preview":154,"thumb":155,"svgFrame":156,"seoMetadata":157,"parents":158,"keywords":165,"url":166},"COMPANY NAME:_______________________ Address: _______________________________________ City: ______________________________ State/Province: ___________ Zip/postal code__________ Country: ________________ Phone: _________________ Fax: __________________ Email: _________________________________________ Purchase Order The following number must appear on all related correspondence, shipping papers, and invoices: P.O. NUMBER: Contact: Address: _______________________________________ City: ______________________________ State/Province: ___________ Zip/postal code___________ Country: ________________ Phone: _________________ Fax: __________________ Email: _________________________________________ Ship To:","Purchase Order","1",49,"https://templates.business-in-a-box.com/imgs/1000px/purchase-order-D1411.png","https://templates.business-in-a-box.com/imgs/250px/1411.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1411.xml",{"title":6,"description":6},[159,162],{"label":160,"url":161},"Sales & Marketing","sales-marketing",{"label":163,"url":164},"Bids & Quotes","bids-quotes","purchase order","/template/purchase-order-D1411",{"description":168,"descriptionCustom":6,"label":169,"pages":152,"size":170,"extension":10,"preview":171,"thumb":172,"svgFrame":173,"seoMetadata":174,"parents":175,"keywords":180,"url":181},"BILL OF SALE This Bill of Sale (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Seller\") , 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: [BUYER NAME] (the \"Buyer\"), 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] For good and valuable consideration, the Seller hereby sells and transfers possession of the following goods in their present condition and location to the Buyer, and its successors and assigns forever, the following described goods [DETAILED LIST OF GOODS]. Seller warrants and represents that he/she has good title to said property, full authority to sell and transfer same and that said goods and chattels are being sold free and clear of all liens, encumbrances, liabilities and adverse claims, of every nature and description.","Bill of Sale",29,"https://templates.business-in-a-box.com/imgs/1000px/bill-of-sale-D1229.png","https://templates.business-in-a-box.com/imgs/250px/1229.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1229.xml",{"title":6,"description":6},[176,177],{"label":160,"url":161},{"label":178,"url":179},"Marketing & Sales Contracts","marketing-sales-contracts","bill sale","/template/bill-of-sale-D1229",false,{"seo":184,"reviewer":196,"legal_disclaimer":200,"quick_facts":201,"at_a_glance":203,"personas":207,"variants":232,"glossary":260,"clauses":296,"how_to_fill":347,"common_mistakes":388,"faqs":413,"industries":441,"comparisons":458,"diy_vs_lawyer":473,"jurisdictions":486,"related_template_ids_curated":507,"schema":519,"classification":520},{"meta_title":185,"meta_description":186,"primary_keyword":187,"secondary_keywords":188},"Security Agreement Template (Free Word)","Free security agreement template for lenders and borrowers. Covers collateral description, security interest, default, and remedies. Used in 190+ countries. Free Word and PDF download.","security agreement template",[189,190,191,192,193,194,195],"security agreement template word","security agreement template free","secured loan agreement template","ucc security agreement template","business security agreement","security interest agreement template","commercial security agreement template",{"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":182},"advanced",{"what_it_is":204,"when_you_need_it":205,"whats_inside":206},"A Security Agreement is a legally binding contract in which a debtor grants a creditor a security interest in specified collateral — such as equipment, inventory, receivables, or other business assets — as security for a loan or other obligation. This free Word download gives you a structured starting point you can edit online and export as PDF, covering collateral description, attachment, perfection, default triggers, and creditor remedies.\n","Use it whenever a lender extends credit secured by personal property rather than real estate, or when a business pledges assets to secure a line of credit, equipment financing, or a commercial loan. It is also required when a secured party needs a written agreement to perfect a UCC financing statement.\n","Identification of debtor and secured party, a detailed collateral description, grant of security interest, representations and warranties, affirmative and negative covenants, events of default, remedies upon default, and governing law. A UCC-1 financing statement reference is typically included to put third parties on public notice.\n",[208,212,216,220,224,228],{"title":209,"use_case":210,"icon_asset_id":211},"Commercial lenders and banks","Securing business loans with borrower assets before funds are disbursed","persona-lender",{"title":213,"use_case":214,"icon_asset_id":215},"Small business owners","Pledging equipment or receivables as collateral to obtain financing","persona-small-business-owner",{"title":217,"use_case":218,"icon_asset_id":219},"Equipment financing companies","Establishing a security interest in financed equipment at the point of sale","persona-equipment-financier",{"title":221,"use_case":222,"icon_asset_id":223},"Private investors and hard-money lenders","Protecting a business loan with a documented claim on specific collateral","persona-private-investor",{"title":225,"use_case":226,"icon_asset_id":227},"Startup founders","Complying with lender requirements when securing a venture debt facility","persona-startup-founder",{"title":229,"use_case":230,"icon_asset_id":231},"Accounts receivable and invoice financiers","Taking a security interest in a borrower's receivables portfolio under a factoring facility","persona-factoring-company",[233,237,241,245,248,252,256],{"situation":234,"recommended_template":235,"slug":236},"Securing a personal property loan between two businesses","Security Agreement (Business)","security-agreement-D915",{"situation":238,"recommended_template":239,"slug":240},"Securing a loan with real estate as collateral","Deed of Trust / Mortgage Agreement","mortgage-deed-D988",{"situation":242,"recommended_template":243,"slug":244},"Pledging specific equipment under an equipment finance arrangement","Equipment Security Agreement","remote-work-equipment-and-security-policy-D13763",{"situation":246,"recommended_template":247,"slug":236},"Lending money between individuals with personal assets as security","Personal Security Agreement",{"situation":249,"recommended_template":250,"slug":251},"Financing inventory on a revolving basis secured by stock on hand","Inventory Financing Agreement","financing-agreement-D877",{"situation":253,"recommended_template":254,"slug":255},"Factoring or assigning receivables to a lender as collateral","Accounts Receivable Financing Agreement","repurchase-of-accounts-receivable-agreement-D290",{"situation":257,"recommended_template":258,"slug":259},"Perfecting a security interest by filing a public notice","UCC-1 Financing Statement","investment-policy-statement-D12883",[261,264,267,270,273,276,279,281,284,287,290,293],{"term":262,"definition":263},"Security Interest","A creditor's legal right to take possession of and sell specified collateral if the debtor defaults on the underlying obligation.",{"term":265,"definition":266},"Collateral","The specific property — equipment, inventory, receivables, or other assets — pledged by the debtor to secure repayment of a debt.",{"term":268,"definition":269},"Debtor","The party who owes the obligation and grants a security interest in their property to the secured party.",{"term":271,"definition":272},"Secured Party","The lender or creditor who holds the security interest and has the right to enforce against the collateral upon default.",{"term":274,"definition":275},"Attachment","The moment a security interest becomes enforceable against the debtor — requiring value given, the debtor's rights in the collateral, and a written security agreement or possession by the secured party.",{"term":277,"definition":278},"Perfection","The process of making a security interest enforceable against third parties — typically by filing a UCC-1 financing statement with the appropriate state authority.",{"term":258,"definition":280},"A public notice document filed with a state authority to perfect a security interest and establish priority over later creditors and trustees in bankruptcy.",{"term":282,"definition":283},"Default","Any event defined in the agreement — typically non-payment, insolvency, or breach of covenant — that triggers the secured party's right to enforce remedies.",{"term":285,"definition":286},"Repossession","The secured party's right, upon default, to take possession of collateral without judicial process, provided it can be done without breaching the peace.",{"term":288,"definition":289},"After-Acquired Property","Collateral that the debtor does not yet own at the time the agreement is signed but will acquire later — a broad security agreement may extend to cover such property automatically.",{"term":291,"definition":292},"Priority","The ranking of competing security interests in the same collateral — generally first to perfect has first claim, with certain purchase-money security interests taking super-priority.",{"term":294,"definition":295},"Purchase-Money Security Interest (PMSI)","A security interest held by the seller or financier of specific goods in those same goods — PMSIs enjoy priority over earlier-filed blanket liens in most jurisdictions when properly perfected.",[297,302,307,312,317,322,327,332,337,342],{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Parties and recitals","Identifies the debtor and secured party by their full legal names and entity types, and states the underlying obligation the agreement secures.","This Security Agreement is entered into as of [DATE] by and between [DEBTOR LEGAL NAME], a [STATE] [ENTITY TYPE] ('Debtor'), and [SECURED PARTY LEGAL NAME], a [STATE] [ENTITY TYPE] ('Secured Party'). Debtor has requested a loan in the principal amount of $[AMOUNT] (the 'Loan') pursuant to that certain [LOAN AGREEMENT] dated [DATE].","Using a trade name instead of the registered legal entity name for the debtor. If the entity name on the security agreement does not exactly match the name on the UCC-1 filing, the security interest may be seriously misleading and unperfected.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Grant of security interest","The operative clause in which the debtor formally grants the secured party a security interest in the described collateral to secure the obligation.","To secure the prompt and complete payment and performance of the Obligations, Debtor hereby grants to Secured Party a continuing security interest in and lien upon all of Debtor's right, title, and interest in and to the Collateral described in Exhibit A.","Drafting a weak or ambiguous grant that is phrased as an agreement to grant rather than an actual present grant. Courts require the granting language to be unconditional and in the present tense.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Collateral description","Defines exactly what property is covered by the security interest — the more specific the description, the clearer the secured party's rights; broader descriptions may extend to after-acquired property.","The 'Collateral' means all of Debtor's right, title, and interest in and to: (a) all equipment, including but not limited to [SPECIFIC EQUIPMENT DESCRIPTION, SERIAL NUMBERS]; (b) all accounts receivable; (c) all inventory; (d) all proceeds of the foregoing.","Using a vague description like 'all assets' without further specification. While broadly enforceable in many US states under UCC Article 9, 'all assets' can fail for consumer transactions and may be challenged in bankruptcy as insufficiently specific.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Representations and warranties","The debtor's factual statements, made as of the signing date, confirming they own the collateral free of prior liens, are authorized to grant the security interest, and the collateral information is accurate.","Debtor represents and warrants that: (a) Debtor has good and marketable title to the Collateral, free and clear of all liens except those set forth in Schedule B; (b) Debtor has full power and authority to grant the security interest created herein; (c) no financing statement covering the Collateral is on file in any public office except as previously disclosed to Secured Party.","Omitting a representation that there are no prior liens. If an undisclosed prior UCC-1 exists, the secured party takes a subordinate interest — with no contractual remedy for the deception.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Affirmative covenants","Ongoing obligations the debtor must fulfill during the term — such as maintaining insurance on the collateral, keeping records, and notifying the secured party of material changes.","During the term of this Agreement, Debtor shall: (a) maintain insurance on the Collateral in amounts and with carriers acceptable to Secured Party; (b) keep accurate books and records relating to the Collateral; (c) promptly notify Secured Party of any change in Debtor's name, address, or entity structure.","Omitting a notice obligation for entity name changes. A debtor that restructures or rebrands without notifying the lender can render the UCC-1 filing seriously misleading, effectively impairing perfection.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Negative covenants","Restrictions on what the debtor may not do without the secured party's prior written consent — typically prohibiting the sale, transfer, or further encumbrance of the collateral.","Without the prior written consent of Secured Party, Debtor shall not: (a) sell, lease, transfer, or otherwise dispose of the Collateral or any interest therein; (b) create or permit any lien, encumbrance, or security interest in the Collateral other than those permitted herein; (c) move the Collateral from [LOCATION] to another jurisdiction.","No restriction on moving collateral to another jurisdiction. If the debtor relocates collateral to a state where no UCC-1 has been filed, perfection lapses and the secured party loses priority.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Events of default","An exhaustive list of specific events that trigger the secured party's right to exercise remedies — typically including non-payment, insolvency, breach of covenant, material misrepresentation, and cross-default.","Each of the following constitutes an 'Event of Default': (a) failure to pay any amount due within [X] days of the due date; (b) commencement of any insolvency, bankruptcy, or receivership proceeding; (c) any material breach of a representation, warranty, or covenant that is not cured within [X] days of written notice; (d) any default under any other agreement between Debtor and Secured Party.","Defining only non-payment as a default. A debtor who stops maintaining collateral insurance, sells assets without consent, or files for bankruptcy protection does not technically trigger a narrow payment-only default clause, leaving the secured party without remedies.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Remedies upon default","The secured party's rights after an event of default — including accelerating the debt, taking possession of the collateral, and disposing of it through a commercially reasonable sale.","Upon the occurrence of an Event of Default, Secured Party may, at its option: (a) declare all Obligations immediately due and payable; (b) take possession of the Collateral without judicial process, provided such possession can be obtained without breach of the peace; (c) sell, lease, or otherwise dispose of the Collateral in a commercially reasonable manner, with [X] days' prior written notice to Debtor.","Omitting the 'commercially reasonable' standard for collateral disposition. Under UCC Article 9 and equivalent statutes, a deficiency judgment can be barred if the secured party disposes of collateral in a commercially unreasonable manner — even if the agreement does not say so.",{"name":338,"plain_english":339,"sample_language":340,"common_mistake":341},"Notice and cure periods","Specifies how notices must be delivered between the parties and grants the debtor an opportunity to cure certain defaults before remedies are exercised.","All notices shall be in writing and delivered by (a) certified mail, return receipt requested, (b) nationally recognized overnight courier, or (c) email with confirmation of receipt, to the addresses set forth above. Debtor shall have [X] business days after receipt of written notice to cure any default that is capable of being cured.","Permitting notice by email only, without confirmation of receipt or a fallback delivery method. Courts have held email-only notice insufficient where the agreement does not specifically authorize it or where receipt cannot be demonstrated.",{"name":343,"plain_english":344,"sample_language":345,"common_mistake":346},"Governing law and jurisdiction","States which jurisdiction's law governs the agreement and where disputes must be litigated or arbitrated.","This Agreement shall be governed by and construed in accordance with the laws of the State of [STATE], without regard to its conflict of laws principles. Any dispute arising under this Agreement shall be resolved exclusively in the state or federal courts located in [COUNTY], [STATE], and each party consents to personal jurisdiction in such courts.","Choosing a governing law state where neither the debtor nor the collateral is located, without considering that UCC Article 9 perfection is governed by the law of the debtor's location — not the contractual choice-of-law provision.",[348,353,358,363,368,373,378,383],{"step":349,"title":350,"description":351,"tip":352},1,"Identify the parties using their exact legal names","Enter the debtor's full registered legal name exactly as it appears on state formation documents, including entity type and state of formation. Do the same for the secured party. Confirm the debtor name against any existing UCC filings.","The debtor name on the security agreement must be character-for-character identical to the name on the UCC-1 financing statement. A single-letter difference can render the filing seriously misleading and unperfected.",{"step":354,"title":355,"description":356,"tip":357},2,"Describe the underlying obligation","In the recitals, reference the specific loan agreement, promissory note, or other obligation being secured by amount, date, and instrument name. The security agreement's validity depends on its connection to a real, existing, or forthcoming obligation.","Attach or cross-reference the promissory note or loan agreement as an exhibit to avoid disputes about what debt is actually secured.",{"step":359,"title":360,"description":361,"tip":362},3,"Draft a specific and complete collateral description","List collateral by category (equipment, inventory, receivables, instruments) and include serial numbers, account numbers, or other identifiers where available. Decide whether to include after-acquired property and proceeds, and state it explicitly.","For equipment collateral, photograph the items and attach a schedule with serial numbers as Exhibit A. This eliminates disputes about whether a specific asset was included.",{"step":364,"title":365,"description":366,"tip":367},4,"Complete the representations and warranties","Have the debtor confirm in writing that they own the collateral, that no prior liens exist beyond those disclosed, that they are authorized to enter the agreement, and that all collateral information is accurate.","Run a UCC lien search in the debtor's jurisdiction before the debtor signs to verify the accuracy of the 'no prior liens' representation — surprises after signing are expensive.",{"step":369,"title":370,"description":371,"tip":372},5,"Set the affirmative and negative covenants","Specify what the debtor must do (maintain insurance, keep records, notify of changes) and what requires prior consent (selling collateral, incurring additional liens, relocating collateral). Tailor restrictions to the specific collateral type.","For receivables collateral, add a covenant requiring the debtor to deposit collections into a specified account that the secured party can monitor or control.",{"step":374,"title":375,"description":376,"tip":377},6,"Define events of default precisely","List every event that should give you the right to accelerate and enforce — non-payment, insolvency, breach of covenant, material adverse change, and cross-default with other agreements. Include cure periods for curable defaults.","A 5-day grace period for payment defaults and a 30-day cure period for non-monetary defaults is a common commercial standard that balances lender protection with borrower fairness.",{"step":379,"title":380,"description":381,"tip":382},7,"Execute and file a UCC-1 financing statement","Both parties must sign the security agreement before or simultaneously with the loan funding. Immediately after execution, file a UCC-1 financing statement in the debtor's state of formation (for entities) or state of residence (for individuals) to perfect the security interest.","Perfection is time-sensitive. A lien filed the day after a competing creditor files — or within 90 days before the debtor's bankruptcy — can be avoided by a bankruptcy trustee. File the same day as closing.",{"step":384,"title":385,"description":386,"tip":387},8,"Calendar continuation filings","A UCC-1 financing statement lapses after 5 years unless a continuation statement is filed within the 6-month window before expiration. Set a calendar reminder at the 4.5-year mark to initiate the continuation filing.","Lapsed perfection means you become an unsecured creditor in bankruptcy — the collateral description in the security agreement is irrelevant if the UCC filing has lapsed.",[389,393,397,401,405,409],{"mistake":390,"why_it_matters":391,"fix":392},"Mismatching the debtor name on the agreement and the UCC-1","UCC Article 9 requires the financing statement to use the debtor's exact legal name. A name that is seriously misleading means the filing is ineffective, leaving the secured party unsecured in a bankruptcy proceeding.","Copy the debtor name character-for-character from the debtor's certificate of formation or state ID. Run a post-filing UCC search immediately to confirm the filing appears under the correct name.",{"mistake":394,"why_it_matters":395,"fix":396},"Failing to file a UCC-1 financing statement after signing","A signed security agreement creates attachment but not perfection. Without perfection, the secured party's interest is unenforceable against a bankruptcy trustee or a later creditor who files first.","File the UCC-1 financing statement with the appropriate state authority on the same day as closing. Never treat the signed agreement alone as sufficient protection.",{"mistake":398,"why_it_matters":399,"fix":400},"Collateral description that omits proceeds and after-acquired property","If the collateral is sold, exchanged, or replaced, the security interest may not automatically follow the proceeds unless the agreement explicitly says so.","Include a proceeds clause covering all cash and non-cash proceeds, and an after-acquired property clause for collateral types like inventory and receivables that change constantly.",{"mistake":402,"why_it_matters":403,"fix":404},"Defining default solely as payment failure","A debtor who files for bankruptcy, sells collateral without consent, or lets insurance lapse does not trigger a payment-only default clause — leaving the secured party with no contractual right to accelerate or repossess.","Include a comprehensive list of events of default covering insolvency, material breach of covenant, material adverse change, and cross-default with other obligations.",{"mistake":406,"why_it_matters":407,"fix":408},"No cure period for non-monetary defaults","Immediately accelerating a large debt for a minor, curable breach — such as a missed insurance renewal — can expose the secured party to lender liability claims and complicate enforcement in court.","Grant a 30-day cure period for non-monetary defaults and a 5–10 day grace period for payment defaults. Document the default notice in writing before exercising remedies.",{"mistake":410,"why_it_matters":411,"fix":412},"Omitting a notice of collateral disposition before sale","UCC Article 9 requires the secured party to send reasonable authenticated notice to the debtor before a public or private sale of collateral. Skipping this step can bar a deficiency judgment even if the debtor clearly owes money.","Include an express notice clause stating the number of days' advance notice (typically 10 business days) to be given before any collateral sale or disposition, matching or exceeding the statutory minimum.",[414,417,420,423,426,429,432,435,438],{"question":415,"answer":416},"What is a security agreement?","A security agreement is a legal contract in which a debtor grants a creditor a security interest in specific personal property — called collateral — to secure repayment of a loan or other obligation. If the debtor defaults, the secured party has the right to repossess and sell the collateral to recover what is owed. Under UCC Article 9, a valid security agreement, combined with a filed UCC-1 financing statement, creates an enforceable and perfected lien on the described assets.\n",{"question":418,"answer":419},"What is the difference between a security agreement and a promissory note?","A promissory note is the debtor's written promise to repay a specific amount under stated terms — it is the evidence of the debt itself. A security agreement is a separate document that creates a lien on collateral to back up that promise. The note says \"I owe you\"; the security agreement says \"and if I don't pay, you can take these assets.\" Both documents are typically executed together at loan closing and cross-referenced.\n",{"question":421,"answer":422},"What collateral can be covered by a security agreement?","Under UCC Article 9, a security agreement can cover virtually all types of personal property — equipment, inventory, accounts receivable, instruments, investment property, intellectual property, deposit accounts, general intangibles, and even commercial tort claims. It does not cover real estate, which is governed by mortgage or deed of trust law. The agreement can also extend to proceeds, products, and after-acquired property of the same type.\n",{"question":424,"answer":425},"What is the difference between attachment and perfection?","Attachment is the step that makes the security interest enforceable between the debtor and the secured party — it requires value given, the debtor's rights in the collateral, and a signed security agreement. Perfection goes further: it makes the security interest enforceable against third parties, including other creditors and a bankruptcy trustee. Perfection is typically achieved by filing a UCC-1 financing statement with the appropriate state office. A signed security agreement alone does not perfect a security interest.\n",{"question":427,"answer":428},"Do I need to file a UCC-1 financing statement after signing a security agreement?","Yes, in nearly all cases. The security agreement creates the security interest, but filing a UCC-1 financing statement with the correct state authority perfects it — giving the secured party priority over later creditors and protecting the lien in the event of the debtor's bankruptcy. The UCC-1 must be filed in the state where the debtor is incorporated (for entities) or resides (for individuals). Failure to file typically means the security interest is unperfected and avoidable by a bankruptcy trustee.\n",{"question":430,"answer":431},"What happens when a debtor defaults under a security agreement?","Upon default, the secured party typically has the right to accelerate the full outstanding obligation, take possession of the collateral without judicial process (self-help repossession), and sell the collateral in a commercially reasonable manner. Any sale proceeds are applied to the outstanding debt, costs of enforcement, and attorney fees. If proceeds are insufficient, the secured party may seek a deficiency judgment against the debtor for the remaining balance, subject to state law deficiency rules.\n",{"question":433,"answer":434},"How long does a UCC-1 financing statement last?","A standard UCC-1 financing statement is effective for 5 years from the filing date. To maintain perfection beyond 5 years, the secured party must file a continuation statement within the 6-month window before the filing lapses. If the continuation is not filed in time, the financing statement lapses, the security interest becomes unperfected, and the secured party's priority position is lost — including in any pending bankruptcy proceeding.\n",{"question":436,"answer":437},"Is a security agreement the same as a mortgage?","No. A mortgage (or deed of trust) creates a lien on real property — land and buildings. A security agreement creates a security interest in personal property — equipment, inventory, receivables, and other movable assets. The two documents are governed by entirely different bodies of law: real estate law for mortgages and UCC Article 9 for security agreements. A comprehensive commercial loan often involves both: a mortgage on real property and a security agreement on business assets.\n",{"question":439,"answer":440},"Do I need a lawyer to prepare a security agreement?","For straightforward commercial loans with standard collateral types, a high-quality template is a practical starting point. Legal review is strongly recommended when the loan is large, the collateral is complex or unusual (intellectual property, investment accounts), the debtor is in a regulated industry, the transaction is cross-border, or the lender needs to establish priority over existing liens. A 1–2 hour attorney review typically costs $300–$600 and is a sound investment relative to the risk of an unperfected or unenforceable lien.\n",[442,446,450,454],{"industry":443,"icon_asset_id":444,"specifics":445},"Banking and Commercial Lending","industry-fintech","Blanket liens covering all business assets are standard in commercial loans; perfection via UCC-1 is required before funding, and lenders run UCC lien searches as part of underwriting.",{"industry":447,"icon_asset_id":448,"specifics":449},"Equipment Finance and Leasing","industry-manufacturing","Purchase-money security interests in specific equipment require filing within 20 days of delivery to achieve PMSI super-priority over earlier blanket liens.",{"industry":451,"icon_asset_id":452,"specifics":453},"Retail and E-commerce","industry-retail","Inventory financing arrangements require floating-lien collateral descriptions that automatically extend to after-acquired stock, with regular field examinations to verify collateral values.",{"industry":455,"icon_asset_id":456,"specifics":457},"Technology and SaaS","industry-saas","Intellectual property — software code, patents, and trademarks — can serve as collateral, but IP assignments must be recorded with the USPTO or Copyright Office in addition to a UCC-1 filing for full perfection.",[459,462,466,469],{"vs":85,"vs_template_id":460,"summary":461},"promissory-note-D13681","A promissory note is the debtor's unconditional written promise to repay a specific sum — it is the evidence of the debt. A security agreement is a separate instrument that backs the note with a lien on specific collateral. The note creates the obligation; the security agreement provides the collateral protection. Both are typically signed at the same closing and cross-referenced.",{"vs":463,"vs_template_id":464,"summary":465},"Loan Agreement","loan-agreement-D13530","A loan agreement governs all terms of the lending relationship — interest rate, repayment schedule, covenants, and representations. A security agreement is a focused document dealing only with the creation and enforcement of the security interest in collateral. Many commercial loans use both: a loan agreement for the full credit terms and a security agreement as the collateral pledge instrument.",{"vs":122,"vs_template_id":467,"summary":468},"personal-guarantee-D13227","A personal guarantee makes an individual personally liable for a business debt — it is a recourse against the guarantor's personal assets but creates no lien on specific property. A security agreement creates a lien on identified collateral but does not extend to the debtor's other assets or the assets of related individuals. Lenders often require both: a security agreement for the collateral and a personal guarantee for residual recourse.",{"vs":470,"vs_template_id":471,"summary":472},"Deed of Trust","D{DEED_OF_TRUST_ID}","A deed of trust creates a lien on real property — land and buildings — as security for a loan, involving three parties: the borrower, the lender, and a trustee who holds title. A security agreement covers personal property under UCC Article 9 and involves only two parties. Real estate collateral requires a deed of trust or mortgage; equipment, inventory, and receivables require a security agreement.",{"use_template":474,"template_plus_review":478,"custom_drafted":482},{"best_for":475,"cost":476,"time":477},"Standard business loans with common collateral types — equipment, inventory, or receivables — between established parties","Free","30–60 minutes",{"best_for":479,"cost":480,"time":481},"Loans above $50,000, multiple collateral types, or transactions where priority over existing liens is critical","$300–$600","1–3 days",{"best_for":483,"cost":484,"time":485},"Complex commercial credit facilities, IP-secured loans, cross-border transactions, or regulated industries","$1,500–$5,000+","1–3 weeks",[487,492,497,502],{"code":488,"name":489,"flag_asset_id":490,"note":491},"us","United States","flag-us","Security interests in personal property are governed by UCC Article 9, adopted in substantially uniform form in all 50 states. Perfection is achieved by filing a UCC-1 financing statement with the Secretary of State in the debtor's state of organization (for entities) or principal residence (for individuals). Certain collateral types — fixtures, timber, as-extracted minerals — require fixture filings in the county where the real property is located. California, New York, and Texas have adopted Article 9 with minor variations, but the core perfection and priority rules are consistent nationally.",{"code":493,"name":494,"flag_asset_id":495,"note":496},"ca","Canada","flag-ca","Each Canadian province has its own Personal Property Security Act (PPSA), which parallels UCC Article 9 but with provincial variations. Perfection requires registration in the province where the debtor is located or where the collateral is ordinarily kept. Ontario and British Columbia have the most sophisticated PPSA regimes. Quebec does not follow the PPSA model — security interests there are governed by the Civil Code of Quebec and require a hypothec registered in the Register of Personal and Movable Real Rights (RDPRM).",{"code":498,"name":499,"flag_asset_id":500,"note":501},"uk","United Kingdom","flag-uk","In England and Wales, security over personal property can take the form of a fixed charge (over specific identified assets) or a floating charge (over a fluctuating pool of assets). Companies must register charges with Companies House within 21 days of creation or they become void against a liquidator or other creditors. The Legal Aid, Sentencing and Punishment of Offenders Act 2012 abolished most bills of sale for consumer lending. Scotland has a distinct legal system and different registration requirements under the Scots law of security.",{"code":503,"name":504,"flag_asset_id":505,"note":506},"eu","European Union","flag-eu","There is no single EU-wide regime for security interests in personal property — each member state maintains its own rules. France uses the nantissement (pledge) and hypothèque mobilière; Germany uses the Sicherungsübereignung (security transfer of title) and Sicherungsabtretung (assignment by way of security). The EU Financial Collateral Arrangements Directive (2002/47/EC) provides a harmonized framework for financial collateral such as cash and securities. Cross-border transactions within the EU require advice on the law of each jurisdiction where collateral is located or where the debtor is established.",[508,464,509,510,511,512,513,514,515,516,517,518],"promissory-note-D434","personal-guarantee-D405","non-disclosure-agreement-nda-D12692","purchase-order-D1411","bill-of-sale-D1229","equipment-lease-agreement-D1140","sales-invoice-D383","independent-contractor-agreement-D160","business-plan-canvas-(one-page)-D12527","service-agreement-D12711","letter-of-intent_acquisition-of-business-D5197",{"emit_how_to":200,"emit_defined_term":200},{"primary_folder":116,"secondary_folder":521,"document_type":522,"industry":523,"business_stage":524,"tags":525,"confidence":531},"guaranties-and-collateral","agreement","general","all-stages",[526,527,528,529,530],"loan","legal","security-agreement","collateral","creditor-remedies",0.95,"\u003Ch2>What is a Security Agreement?\u003C/h2>\n\u003Cp>A \u003Cstrong>Security Agreement\u003C/strong> is a legally binding contract in which a debtor grants a creditor — the secured party — an enforceable security interest in identified personal property, referred to as collateral, as security for repayment of a loan or other obligation. Unlike an unsecured loan where the creditor's only recourse upon default is a lawsuit for money damages, a security agreement gives the secured party the right to repossess and sell the specified collateral to recover what is owed. Under UCC Article 9 in the United States and equivalent personal property security legislation in Canada and other common-law jurisdictions, the agreement must be in writing, signed by the debtor, contain a sufficient description of the collateral, and be accompanied by a separately filed financing statement to perfect the lien against third parties and a bankruptcy trustee.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Lending money or extending credit without a security agreement means that if the borrower defaults, files for bankruptcy, or simply refuses to pay, you stand in line with every other unsecured creditor — typically recovering cents on the dollar, if anything. A properly executed and perfected security agreement changes that position entirely: it gives you a legally recognized priority claim on specific assets that can be enforced without court approval in many circumstances, including self-help repossession of equipment or inventory. Without it, a later creditor who files a UCC-1 financing statement on the same collateral before you do will take priority over your interest regardless of which loan was made first. The cost of not having this document — and not filing the corresponding UCC-1 — is the difference between a secured creditor who recovers in full and an unsecured creditor who waits years for a bankruptcy distribution. This template gives you the foundational structure to document and protect that security interest from day one.\u003C/p>\n",1781186039526]