Oregon Security Agreement and Notice to Intermediary

State:
Oregon
Control #:
OR-SKU-1821
Format:
Word
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Description

Security Agreement and Notice to Intermediary The Oregon Security Agreement and Notice to Intermediary (OSA) is a form used by Oregon-based business entities to establish a legal security interest in personal property. It is used to secure a loan or other obligation and provides legal protection to the lender or creditor. The OSA is a document that attaches to the collateral and acts as a reminder to the debtor of the terms of the security agreement. The OSA consists of a Notice to Intermediary (NPI) and an Oregon Security Agreement (OSA). The NPI is a form that is sent to the debtor’s financial institution or other intermediary, informing them of the security interest claimed by the debtor. The NPI must also be filed with the debtor’s Secretary of State in order to be valid. The OSA is a legal document that creates the security interest. It must be signed by both parties and includes a description of the collateral, the amount of the debt, and the terms of repayment. There are two types of Oregon Security Agreements and Notice to Intermediary: UCC-1 (Uniform Commercial Code) and Non-UCC-1. UCC-1 is used when the collateral is tangible personal property that is subject to the Uniform Commercial Code, and Non-UCC-1 is used when the collateral is not subject to the Uniform Commercial Code.

The Oregon Security Agreement and Notice to Intermediary (OSA) is a form used by Oregon-based business entities to establish a legal security interest in personal property. It is used to secure a loan or other obligation and provides legal protection to the lender or creditor. The OSA is a document that attaches to the collateral and acts as a reminder to the debtor of the terms of the security agreement. The OSA consists of a Notice to Intermediary (NPI) and an Oregon Security Agreement (OSA). The NPI is a form that is sent to the debtor’s financial institution or other intermediary, informing them of the security interest claimed by the debtor. The NPI must also be filed with the debtor’s Secretary of State in order to be valid. The OSA is a legal document that creates the security interest. It must be signed by both parties and includes a description of the collateral, the amount of the debt, and the terms of repayment. There are two types of Oregon Security Agreements and Notice to Intermediary: UCC-1 (Uniform Commercial Code) and Non-UCC-1. UCC-1 is used when the collateral is tangible personal property that is subject to the Uniform Commercial Code, and Non-UCC-1 is used when the collateral is not subject to the Uniform Commercial Code.

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Oregon Security Agreement and Notice to Intermediary