Most loans between a borrower and a lender are typically formalised with a promissory note. In many instances the lender will desire additional assurance that the loan will be repaid and ask that the borrower enter into a Security Agreement. This agreement is beneficial as it sets out the lender’s rights regarding collateral. A written Security Agreement will be invaluable in the event the borrower defaults on the loan.

Among others, this Security Agreement includes the following provisions:

• Parties to the Agreement: This provision contains the identity and names of the parties entering into the agreement;
• Collateral: Sets out the specific collateral which secures the debt;
• Term and Termination: Sets out the term of the agreement and notice of termination details;
• Events of Default: Specific provisions regarding default of the loan;
• Remedies: Sets forth the remedies which can be taken in the event of default.

Protect Yourself and Your Rights by using our professionally prepared up-to-date forms.

This lawyer-prepared packet contains:

1. General Information
2. Instructions and Checklist
3. Security Agreement for use in India

Law Compliance: This form complies with the laws of the states and territories of India