Security Agreement

Description

**Product Description:**

The **Security Agreement** is a legally binding document used in the context of **Loans** to formalize the terms under which collateral is pledged to secure a loan. This agreement outlines the rights and obligations of both the lender (secured party) and the borrower (debtor), specifying the assets used as security, the conditions for default, and the remedies available to the lender in case of non-payment. It ensures that the lender has a legal claim to the collateral if the borrower fails to meet their repayment obligations, providing financial protection and reducing risk. This document is essential for lenders to safeguard their interests and for borrowers to access funding with secured terms.