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A General Security Agreement (GSA) is a common form of personal property security used to secure commercial loans and business obligations to financial institutions or creditors. It can secure both present and future obligations, including loans and franchise rights of the debtor, the party signing the GSA. Key elements typically included in a GSA are the debtor's representations, warranties, covenants, a description of the secured personal property, the GSA’s terms and conditions, and enforcement rights in case of defaults. GSAs are generally secured over the borrowing company but can also be utilized by partnerships, cooperatives, and individuals, highlighting the importance of accurately identifying the debtor.