A valid security agreement includes at least a description of the security, a statement of intent to provide security, and the signatures of all parties involved. However, most safety features go beyond these basic requirements. Many include restrictive covenants (or obligations of the debtor) and guarantees (guarantees). Examples of restrictive covenants or warranties include: for a security right to be linked to the security held by subsequent purchasers, it must be refined. If the purchase-money security agreement is a security right in consumer goods, perfection is automatic. Otherwise, the lender must register the agreement itself or a UCC-1 financing statement in an appropriate public place (usually the Secretary of State or a state trade commission under that person`s authority). Several methods can be used to perfect a security interest. Most debtors and creditors file financing statements, but some are looking for alternatives. .