A pledge agreement contract form is a document that is used for stating a promise toward fulfilling a particular obligation and responsibility. The individual who uses this contract is known as a the pledgor. In the industry of business and finances, the pledgor must complete the contract along with his signature for him to be able to have an opportunity in loaning or borrowing from a financing agency such as banks and loan providers. On the other hand, in the field of common organizations and groups, a pledgor will use the form to signify that he will provide a donation or a gift to the members of the organization for a specified period or for a one-time event.
Pledge Agreement Contract Form Sample
Pledge Agreement Contract Form in DOC
With this, the definition and the role of a pledge agreement contract form highly depend on what the intention of the user is, and what the objectives of an organization are for providing the document to a pledgor. However, regardless of the variation, a pledgor is always responsible for keeping what he claims and states to be the amount that he will repay or provide to a creditor or to an organization.
Security Pledge Agreement Contract Form
Share Pledge Agreement Contract Form
Varieties of Pledge Agreement Contract Forms
Since a pledge agreement contract form has two separate purposes and can be used by two types of groups, variations must be created to cater all rules of what the pledgor needs to obey during the execution of the contract. Below are the common examples and variations of pledge agreement contract forms that are presented by organizations to their pledgors and clients:
1. Collateral Pledge Agreement Contract Form – This is an example of a pledge agreement contract form that is used by banks and loan providers. Contents of the form focus on the need of a pledgor to name a property as a collateral for his loan. Collateral maintenance requirements, segregation, delivery, and withdrawal clauses are stated on the form to inform the pledgor about his rights and responsibilities regarding his collateral property. Other contents included in this contract form are the bank’s power of attorney clauses, mortgage notes, events of default, and resolution clauses. In order to legalize the contract, the seal of a notary public must be incorporated in the corporate acknowledgment section with the signatures of the bank’s representative and the pledgor himself.
Collateral Pledge Agreement Contract Form
2. Irrevocable Pledge Agreement Contract Form – This type of contract form is suitable to be used by the pledgor who will be donating their properties to organizations and groups. However, in this contract, the pledgor is referred to as the donor who will be providing the donations and the pledge to a donee or the receiver of the pledge. The general information that will be disclosed in this contract for completion include the property identification number of the property that the pledgor or the donor will donate, the sum amount that will be provided to the donee once the property is conveyed or will undergo a property transfer, and the name of the pledgor with his signature to imply his approval for the contract’s terms. And since the contract is irrevocable, the pledgor or the donor is not allowed to change his decision regarding his pledge once he will affix his signature on the form.
Irrevocable Pledge Agreement Contract Form
3. Multi-Year Pledge Agreement Contract Form – This is another pledge agreement contract that deals with the willingness of a pledgor to donate to an organization. Once the pledgor completes the contract, he is obligated for providing donations and pledges for five consecutive years to the organization, which will be used for sustaining projects and other organizational matters. The pledgor or the donor’s name will be stated on the form which will be followed by a table wherein the period of the obligated pledge, the amount to be contributed, the pledgor’s chosen designation of funds and the reminder date for the pledgor are indicated. You may also see sample real estate sales contract forms.
Multi-Year Pledge Agreement Contract Form
Other pledges that can be the main subject of a pledge agreement contract form includes company shares and stocks, and even donations in kind or food to be distributed by an organization to those who are in need. Nevertheless, a pledgor must be responsible for what he is getting involved in order to avoid any problems and issues with an organization, especially if the intention of the pledge is to renew or ask for a loan. You may also see contract forms in PDF.
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