Security Agreement And its Purpose

A security agreement is a mutual document between the loan lender and the borrower. The security agreement includes crucial information such as the details of the object which has used as a security amount, the repayment loan amount and proof of ownership of the borrower.

This agreement includes essential details of the object which is being used as the security amount, ownership proof details and the details of the borrower on the asset which is getting used as the collateral, time period set for the full repayment of the loan amount and the interest rates applicable to the loans and so on.