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A General Security Agreement (GSA) is a prevalent form of personal property security used to secure commercial loans and business obligations with financial institutions or secured parties. It covers present and future obligations, including loans, guarantees, and franchise agreement rights. Key components typically include the debtor's representations, warranties, and covenants, a description of the secured personal property assets, the terms and conditions of the GSA, and enforcement rights in case of default. GSAs can secure obligations for companies, partnerships, cooperatives, and individuals, making it essential to accurately identify the debtor's name in the agreement.