©2018 by Lawyak. Website & Marketing By Rapid Boost Marketing

©2018 by Lawyak. Website & Marketing By Rapid Boost Marketing

Address: Prowse Chowne LLP

#1300 Phipps-McKinnon Bldg.

10020 – 101A Avenue Edmonton, Alberta          

Canada T5J 3G2

Phone No:     866-881-2462

Fax:                  780 439 0475

Email:             contact@lawyak.com

Office Time:  Monday to Friday: 8:30 am – 5:00 pm

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Security Agreement

Security Agreement

Pricing: $195

Delivery Timeline: Next Day

A security agreement is a document that depicts a security interest in the personal property of a debtor used to provide security on a loan. Private property means property that is not real estate.

This agreement is used with a loan agreement when the granter wants security for repayment of the loan. In general terms, this means that if the borrower fails at repayment of the loan, the collateral is sold, and the proceeds are used to pay back the loaned item, like personal possessions or money. A security agreement is used when personal property (excluding real estate) is used as collateral. If a loan is secured for real estate, a mortgage is required.

Individuals may use intangible assets as a security for the loan such as:

  • Accounts receivable

  • Trademarks

  • Intellectual property

  • Stocks

  • Bonds

 

Our lawyers resolve the confusion of the type of assets that you can use in the security agreement. Once this is done, the agreement is reviewed and can be signed by the debtor and the creditor (also called the secured party).

The creditor may also require another corporation or individual to sign as a guarantor of the debtor’s obligations. Our legal team will deliver this service within a stipulated time to avoid any future slip-ups.

 

What are the Core Elements of Security Agreement?

 

The core elements include:

  • Grant of Security Interest

  • Description of Collateral

  • Definition of Obligations

  • Attachment

  • Default

  • Effects of Default

  • Remedies

  • Termination

  • Dealing with the Collateral

  • Assignment

  • Ownership of Collateral

 

Our website provides individuals with a quick way to procure legal documents and services at the click of a mouse. We deliver on time deliverables that are personalized as per your business requirements. 

We work closely with our clients to provide exceptional legal aids catered specifically to their requirements. 

 

Why Lawyak?

  • Providing personalized legal advises and services as per your needs

  • A thorough background study on your case which gives you the solution you have been anticipating

  • Keeping you on track with your desired service and its delivery time

  • Our team of expert lawyers that are well-versed with legal procedures and have an excellent understanding of the law

  • Solving any disputes and providing answers to the confusions, questions, and arguments regarding security agreements

  • Providing this service at a very reasonable fee

  • Offering access to the requested legal service and document right from your computer or phone.

 

Our knowledge and expertise are reflected through our commitment towards our client’s needs and requirements. We ensure excellent delivery service at reasonable prices.

With Lawyak, you get access to most requested legal services and documents right from your computer or your phone. So, if you require any legal service, do not hesitate to contact us!