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Describe the competencies required to develop a global mind-set.
Security Agreement
An agreement in which the debtor gives the secured interest to the secured party.
Debtor
An individual or entity that owes money or is under financial obligation to another, typically as a result of borrowing funds or purchasing goods/services on credit.
Collateral
Assets that are offered to secure a loan or other credit and that can be seized by the lender if the loan is unpaid.
Secured Parties
Creditors who have the right to seize collateral if a debtor fails to fulfill their obligation under a secured agreement.
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