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Notification of Disposition of Collateral Agreement

December 13, 2012 by agribusiness in Legal Agreements with 0 Comments
A notification of disposition of collateral agreement is a document drafted when a secured party sends to a debtor or an obligor an authenticated notification of disposition on a certain date referred to as a notification date. Under this agreement the secured party disposes of collateral under a certain legal section.

The information usually mentioned in the agreement is as follows:

  • The effective date of the agreement
  • The revised code under which the notification of disposition has to be specified
  • The adjustable rate note in the original principal amount as on the effective date.
  • The deed of trust and also the name and address of the individual executing the deed of trust
  • The official record and the state under which the official record belongs
  • It is necessary to mention the collateral if it is anything other than consumer goods
  • The details of the debtor
Notification of Disposition of Collateral Agreement

Notification of Disposition of Collateral Agreement

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