Question: Specific Security Agreement - Agreement that secures certain specific assets as collateral (ie. debtor purchases a vehicle) Registered at the Personal Property Registry (PPR). Creditor

Specific Security Agreement - Agreement that secures certain specific assets as collateral (ie. debtor purchases a vehicle) Registered at the Personal Property Registry (PPR).

Creditor has right to seize/sell the specific asset(s) in the event that debtor defaults on payments.

General Security Agreement (GSA) -

Most common security agreement used for general business loans

GSA can encompass all types of personal property (including ALL assets of a business outside of real property). registered at PPR

GSA is a powerful tool

Please provide a real-life example of Specific security agreement and general security agreement. (Please do not explain the concept again)

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