UK lenders, prepare a Security Agreement for a borrower to sign by using this downloadable and easy-to-use template.
- The borrower grants the lender a security interest in all of the borrower's present and after-acquired property to secure repayment of a loan, operating line, or other credit facilities advanced by the lender to the borrower.
- The collateral is to be kept at the borrower's address within the United Kingdom and not moved or relocated without the lender's consent.
- The borrower must keep the collateral insured, and the lender is to be a named beneficiary on the insurance policy.
- The agreement is in default if there is any material decrease in the value of the security or an adverse change in the borrower's financial situation.
Every loan or credit facility should be secured. Download the UK Security Agreement and use it as often as your business requires.
Last Updated: 14-April-2016