Canada General Security Agreement

Canadian lenders, secure a loan, line of credit or other indebtedness with this comprehensive General Security Agreement template.

• The borrower grants the lender a security interest in all of the borrower's personal property (inventory, equipment, accounts and book debts), and all income and proceeds from that personal property.
• The General Security Agreement secures payment and performance of all of the borrower's present and future obligations and indebtedness to the lender, including the lender's costs of enforcing the Agreement.
• The borrower agrees to protect and preserve the collateral, to keep it in good condition and repair, to pay all taxes and charges levied against it, and to keep it fully insured.
• So long as the borrower is not in breach of its obligations, the borrower retains possession of the collateral and can use it in the ordinary course of its business.
• This form of Agreement can be used in any province with Personal Property Security Act legislation.

This Canada General Security Agreement is provided in MS Word format, and is fully editable to fit your circumstances.