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What are the steps involved in selecting individuals for an international assignment? Briefly describe each step.
After-Acquired Property
Property acquired by a debtor after a security agreement is signed, which may still be subject to a creditor's claim.
Security Agreement
A contract that creates a lien on collateral, securing the performance of an obligation, commonly used in secured loan transactions.
Debtor
An individual or entity that owes money or other forms of obligations to another party, known as the creditor.
Perfection
A legal process by which a secured creditor establishes a priority claim on a debtor's asset over others, often through a public registration.
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