Site Specific General Security Agreement

by lobo October 8, 2021  

Advice to avoid this trap: the secured party must register a notice of the security interest created by a GSA by filing a declaration of financing in the corresponding provincial personal property registry (PPR) and perhaps also according to the U.S. commercial code or elsewhere, depending on the nature of the encumbered assets. The insured party may be required to make multiple registrations in different provinces, depending on the nature of the secured assets, where they are located, and the jurisdictions in which the debtor carries on business. Depending on the circumstances, a GSA providing rents may be registered in the PPR, in addition to the entry of the corresponding rent allowance in the cadastre. Check the consistency. .


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