Pledge Of Stock, Simple

Pledge of Stock, Simple

 

A simple pledge of stock is an agreement between two persons. The pledge of stock is the written document stating that the owner is indebted to the creditor or someone. The document contains the name of the owner, name of the creditor, date of agreement, amount to pay and most importantly the signature of the owner and the creditor. To secure the repayment of the debt, the owner pledges to the creditor the shares of stocks and the owner processes all necessary documents needed for the pledge.

Pledge of Stock, Simple

__________________, referred to as OWNER, and _______________, referred to as CREDITOR, agree:

OWNER is indebted to CREDITOR in the sum of $____(____ _________&___/100 dollars) for a note;
to secure repayment of the debt, OWNER pledges to CREDITOR ______ shares of _________ stock of ______________________.

OWNER agrees to execute all necessary documents to perfect the pledge.

Dated: _________________________________________

 

______________________________________________________________
Owner

 

______________________________________________________________
Creditor

Pledge of Stock, Simple
Review List

This review list is provided to inform you about this document in question and assist you in its preparation. This Pledge format is intended for a creditor to get additional collateral from a debtor, usually in default when agreeing to this additional requirement, in consideration of not foreclosing on the loan in question. The regular Stock Pledge agreement should be used, if possible, by a creditor; the reason this is used is to get a quick signature with the paperwork to follow.

1. Make multiple copies. Give one to each party. The creditor should follow up with the standard Stock Pledge Agreement after this one has been signed, sealed, and delivered to them.

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