Letter for Pledge of Personal Property



Letter for Pledge of Personal Property :



This Letter should be written in The Letter-Pad of the Company.


PLEDGE OF PERSONAL PROPERTY



From :

The Sender's Name,
Door Number and Street's Name,
Area Name,
City.
Postal Code : XXXXXXX
Phone Number : 0000 - 123456789
E-mail ID : sendersname@companywebsite.com


Date :


Reference :


TO :

Addressee's Name,
Designation,
The Company's Name,
Full Address with Phone Number.



Subject :


Dear Sir,


OR VALUE RECEIVED, the undersigned hereby deposits andpledges with [Pledgee] as collateral security to secure thepayment of....


[Describe debt]


The following personal property [collateral] described as:


It is understood and agreed that


1. Pledgee may assign or transfer said debt and the pledged collateral hereunder.


2. Pledgee shall have no liability for loss, destruction or casualty to the collateral unless caused by his own negligence.


3. The undersigned shall pay any and all insurance it elects to maintain on the pledged collateral and any personal property, excise or other tax or levy.


4. The undersigned warrants that it has good title to the pledged collateral, authority to pledge same and that it is free of any adverse lien, encumbrance or claim.


5. In the event of default of payment of the debt or breach of this pledge agreement, the Pledgee or holder shall have full rights to foreclose on the pledged collateral and exercise its rights as a secured party pursuant to Article 9 of the Uniform Commercial Code said rights being cumulative with any other rights the Pledgee may have against the undersigned.


Signed under seal this (DATE).


Yours Sincerely,


(The Sender's Signature)


The Sender's Name


NOTE :


This is a typical letter. You have to add your company's name with full address. And the receiver's name and full address also should be added in the place allotted for that purpose. Without those primary details no letter carries any significance. So, you are requested to provide all those important details. Failing which the letter will make a wrong impression about your company and you among the receivers of your letters. This is the most unwanted attitude on your side in dealing with the clients who are the most valued assets of any business organisation. If necessary, leave those spaces blank.




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Letter for Pledge of Personal Property
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