Security Agreement – Business Broker terms! Free Assessment

During a business sale in Tampa, the buyer agreed to provide a security agreement to the seller, who was also acting as a creditor due to seller financing. This agreement granted the seller a claim on specific business assets as collateral, ensuring that there was a resource to look to in case the buyer failed to meet the payment obligations outlined in the seller note. This security agreement was crucial in providing the seller with added assurance and security, facilitating a smoother transaction process for buyer, seller and business broker.