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A General Security Agreement (GSA) is commonly used to secure commercial loans or business obligations to a financial institution or other secured party. GSAs can secure present or future obligations, including loans, guarantees, and franchise rights. Key aspects of a GSA include debtor representations, descriptions of secured assets, terms and conditions, and enforcement rights in cases of default. While GSAs are usually secured over companies, partnerships, cooperatives, or individuals can also provide GSA security. The debtor's name must be accurately documented to ensure the agreement's validity.
