(2) The contract provides for delivery against withdrawal. A security agreement reduces the risk of default by the lender. A guarantee contract refers to a document that presents a lender with a protective interest for a given asset or immovable property that is mortgaged as collateral. The conditions shall be laid down at the time of the establishment of the security agreement. Security agreements are a necessary part of the business world, because without them, lenders would never grant loans to certain companies. In case of delay of the borrower, the mortgaged guarantees can be confiscated and sold by the lender. (D) Security rights are deposit accounts, electronic paper, investment property, letter of credit rights or electronic documents, and the secured party is controlled in accordance with the provisions of Sections 7106, 9104, 9105, 9106 or 9107, in accordance with the debtor`s security agreement. (a) Except as otherwise provided in this Code, a warranty agreement shall be effective between the parties, against the purchasers of the collateral and against the creditors, in accordance with their terms. Real estate that can be cited as collateral under a warranty agreement includes product inventory, furniture, equipment used by a company, furniture and real estate held by the company. The borrower is responsible for maintaining the guarantees in good condition in the event of default. The property mentioned as a guarantee must not be removed from the premises unless the property is necessary in the course of normal activity. (b) The protective interest described in subdivision (a) ensures the person`s obligation to pay the financial asset. (B) it is provided under an agreement between persons dealing with those transferable securities or financial assets.
1. Subdivision (a) shall not apply unless the secured party has the right to enter into an agreement on one of the following: (c) A guarantee agreement may provide that guarantees are secured or that accounts, securities, intangible payment assets or debt securities are sold in the context of future advances or other securities, whether or not advances or value are granted on the basis of the commitment. (g) The attachment of a right of guarantee in respect of a right of payment or performance secured by a right of guarantee or another right of pledge of personal or immovable property is also the attachment of a right of safeguard over the right of guarantee, hypothec or any other right of pledge. Many lenders are reluctant to enter into agreements that would jeopardize their ability to obtain adequate compensation if the borrower was late. Entrepreneurs seeking financing from multiple sources can find themselves in difficult positions when borrowers need security arrangements for their assets. In particular, small businesses may have few real estate assets or assets that can be used as collateral to secure credit. (e) Where a new debtor is bound as a debtor by a contract of security entered into by another person, a secured receivable may include a contract of security under its terms. . . .
Posted in: UncategorizedLeave a Comment (0) ↓