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A General Security Agreement (GSA) is commonly used to secure commercial loans and other business obligations for creditors. It secures present and future obligations, including loans, guarantees, and franchise rights. A GSA includes debtor's representations, descriptions of secured assets, terms, conditions, and enforcement rights in case of defaults. GSAs are typically over companies, but partnerships, cooperatives, and individuals can also give GSA security. It's essential to ensure the debtor's name is correctly stated.