The Security Agreement Contract is a fundamental document in Nigerian secured lending practices, essential for creating enforceable security interests over assets. It is primarily used when a party (typically a lender) requires security over assets as collateral for extending credit or other financial accommodations. The agreement must comply with Nigerian law, particularly the Secured Transactions in Movable Assets Act 2017, Companies and Allied Matters Act 2020, and other relevant legislation. This document is crucial in commercial lending, project finance, and other secured transactions, providing the security taker with rights over the specified collateral in case of default. The agreement includes detailed provisions about the collateral, parties' rights and obligations, enforcement mechanisms, and compliance with local registration and perfection requirements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
Alternatively...
1. Parties: Identification of the security provider (grantor) and security taker (secured party)
2. Background: Context of the security arrangement and reference to any underlying obligations or facilities
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Grant of Security Interest: Core provisions creating the security interest over the collateral
5. Description of Collateral: Detailed description of assets subject to the security interest
6. Secured Obligations: Definition and scope of the obligations being secured
7. Representations and Warranties: Grantor's confirmations regarding ownership, authority, and status of collateral
8. Covenants: Ongoing obligations of the grantor regarding maintenance and dealing with collateral
9. Perfection Requirements: Actions required to perfect the security interest including registrations
10. Events of Default: Circumstances that trigger enforcement rights
11. Enforcement Rights: Powers and remedies available to the secured party upon default
12. Power of Attorney: Appointment of secured party as attorney for enforcement purposes
13. Notices: Process for giving notices under the agreement
14. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction provisions
15. General Provisions: Standard boilerplate clauses including amendments, waivers, and severability
1. Intercreditor Provisions: Required when multiple secured parties have interests in the same collateral
2. Insurance Requirements: Detailed insurance obligations when collateral requires specific insurance coverage
3. Special Provisions for Regulated Assets: Required when collateral includes licensed or regulated assets
4. Currency Provisions: Required when secured obligations involve multiple currencies
5. Tax Provisions: Detailed tax provisions when security arrangement has significant tax implications
6. Further Assurance: Additional provisions for complex security arrangements requiring future actions
7. Release and Discharge: Detailed provisions for releasing security in complex arrangements
1. Schedule 1 - Collateral Description: Detailed itemization and description of all assets subject to the security interest
2. Schedule 2 - Secured Obligations: Detailed description of all obligations secured by the agreement
3. Schedule 3 - Perfection Requirements: Specific filing, registration, and notice requirements
4. Schedule 4 - Form of Notice to Third Parties: Template notices required for perfection or enforcement
5. Schedule 5 - Existing Security Interests: List of any existing security interests affecting the collateral
6. Appendix A - Registration Forms: Forms required for registering the security interest with relevant authorities
7. Appendix B - Powers of Attorney: Form of powers of attorney referenced in the agreement
Authors
Find the document you need
Real Estate Security Agreement
A Nigerian law-governed agreement creating security interests over real estate property as collateral for specified obligations.
Download
Personal Property Security Agreement
A Nigerian law-governed agreement creating security interests over personal property/movable assets to secure obligations, typically used in lending arrangements.
Download
Security Agreement Contract
A Nigerian law-governed agreement creating security interests over assets to secure obligations, typically used in lending arrangements.
Download
Pledge Security Agreement
A Nigerian law-governed security agreement creating a pledge over movable assets, compliant with local secured transactions regulations and registration requirements.
Download
Global Master Repurchase Agreement
A master agreement for repurchase transactions under Nigerian law, governing securities financing between financial institutions with CBN compliance.
Download
Personal Loan Contract With Collateral
A Nigerian law-governed personal loan agreement with collateral provisions, detailing loan terms and security arrangements in compliance with local financial regulations.
Download
Collateral Security Agreement
A Nigerian law-governed agreement establishing security interests over collateral to secure specified obligations, compliant with local secured transactions legislation.
Download
Property Collateral Agreement
A Nigerian law-governed agreement creating security over real property to secure specified obligations, establishing rights and enforcement mechanisms.
Download
Pledge And Security Agreement
A Nigerian law-governed security document creating a pledge over specified assets, establishing security interests and enforcement rights in compliance with local legislation.
Download
Security Loan Agreement
A Nigerian law-governed agreement establishing terms for a secured loan facility, including security arrangements and enforcement mechanisms.
Download
Master Repurchase Agreement
A Nigerian law-governed Master Repurchase Agreement for securities financing transactions in the Nigerian financial markets, compliant with Central Bank of Nigeria requirements.
Download
Asset Pledge Agreement
A Nigerian law-governed security document creating a pledge over assets as collateral for obligations, subject to local security and registration requirements.
Download
Pledge Of Shares Agreement
A Nigerian law-governed agreement creating a security interest over shares, detailing pledge terms and enforcement mechanisms in compliance with local corporate and securities regulations.
Download
Loan Collateral Agreement
A Nigerian law-governed agreement creating security interests over assets to secure loan repayment or other obligations, establishing lender's rights and borrower's obligations regarding the collateral.
Download
Film Investment Contract
A Nigerian law-governed agreement establishing terms for film production investment, including rights, obligations, and revenue sharing arrangements in compliance with local entertainment and investment regulations.
Download
Collateral Trust Agreement
A Nigerian law-governed agreement establishing a trust structure for holding and managing collateral assets to secure lending transactions.
Download
Collateral Pledge Agreement
A Nigerian law-governed agreement establishing a security interest through the pledge of assets as collateral for financial obligations.
Download
Share Charge Agreement
A Nigerian law-governed security agreement creating a charge over shares in a Nigerian company as collateral for an obligation or debt.
Download
Stock Transfer Contract
A Nigerian law-governed agreement facilitating the transfer of shares between parties, ensuring compliance with CAMA 2020 and related regulations.
Download
Reverse Repurchase Agreement
A Nigerian law-governed agreement for the purchase of securities with a commitment for future repurchase at a predetermined price, structured under local financial regulations.
Download
Negative Pledge Agreement
A Nigerian law-governed agreement where a borrower commits not to create security interests over its assets without the lender's consent.
Download
Margin Lending Agreement
A Nigerian law-governed agreement establishing terms for lending against securities as collateral, compliant with BOFIA 2020 and SEC regulations.
Download
Security Lending Agreement
Nigerian law-governed agreement establishing terms for securities lending transactions between financial institutions, including collateral requirements and regulatory compliance.
Download
Stock Repurchase Agreement
A Nigerian law-governed agreement documenting terms and conditions for a company's repurchase of its own shares from existing shareholders.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your data is private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
