Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

security definition

What does security mean? In legal practice, security means money or other assets provided as a guarantee that a legal obligation will be performed, with forfeiture if it is not. In criminal proceedings, it most often refers to a cash deposit or equivalent required as a condition of bail to secure a defendant’s attendance at court and compliance with bail; failure to surrender may lead to forfeiture. The concept and procedures are set by bail legislation and court rules in each jurisdiction. Practice varies: in England & Wales and Northern Ireland, courts commonly take recognisances, with or without sureties, and may require a...

Drafting and negotiating security for loans: asset coverage, fixed and floating charges, bilateral and syndicated structures, precedents and Companies Act registration (England and Wales)

Published by a LexisNexis Banking & Finance expert

Practice notes

This How to guide sets the groundwork for drafting and negotiating a Security document. It links to helpful precedents and highlights key drafting and negotiation points. Practice Note: Introductory guide to security in a lending transaction gives a fuller overview of taking and perfecting security, covering types of security, perfection and priority. Practice Note: Debenture drafting and negotiation guide provides detailed guidance on drafting and negotiating a debenture.

Parties

The parties to a security document in a bilateral transaction will be:

the security provider(s)—eg the Borrower(s) under the facility agreement or a third party, such as group company guarantors or a parent company, or both; and
the lender

The parties to a security document in a syndicated transaction will be:

the security provider(s)—the borrower(s) under the facility agreement or a third party, such as the group company guarantors or a parent company, or both; and
the security agent, acting as trustee and security agent for the lenders and other finance parties

Where there are several companies in the borrower group, some or...

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Web page updated on 21/05/2026

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