A commercial pledge agreement is a document prepared when an individual or an organization is granted a commercial pledge right and right is registered in the Commercial Pledge Registry as per the laws of the state in which it is registered. The agreement mentions the laws as per which the pledge has been granted and also the name of the individual or the organization who has been granted this right.
Sample Commercial Pledge Agreement
This commercial pledge agreement is entered on this day between John Duan Private Limited referred to as the borrower and New Jersey Securities referred to below as the lender. As per the agreement New Jersey Securities will lend John Duan Private Limited a security interest.
Details of borrower:
Address: 24 Hockey High Road
New York, New Jersey 5214.
Phone number: 451235689
Email id: firstname.lastname@example.org
Details of the lender:
Address: 24 Aspen High Road
New York, New Jersey 5272.
Phone number: 451235674
Email id: email@example.com
Terms and conditions:
The borrower agrees to put their assets as collateral for getting the security.
In case the borrower is unable to return the security interest in three years, the lender can sell off the assets.
Signature of the borrower: Signature of the lender:
Nathan Lee Natasha Cooper
(MD, John Duan Private Limited) (MD, New Jersey Securities)