Global Breaking News - Tuesday, December 24, 2024

DEMAND BY SECURED PARTY FOR POSSESSION OF COLLATERAL
* secured party = 담보권자/ possession = 소유, 소지/ collateral = 담보물

Date: ______

To: ______ (Debtor)
* debtor = 채무자(국)

This is to advise you that you are in default under our
security agreement dated ___, 20__, for the following reason(s):
* default = 채무 불이행/ security agreement = 보증 협약서

Accordingly, I demand that you surrender possession of
the collateral to me at once as provided in the security
agreement and Uniform Commercial Code.
* surrender = 내주다(넘겨주다/포기하다)
* uniform commercial code = 통일 상법전

Very truly,

___________________________
Secured Party