After thinking about it Just Learning, if your banker is not asking you to sign additional papers but just wants serial numbers and insurance guarantee then likely you have already signed a blanket security agreement that has your machinery as collateral. By getting the serial numbers and insurance coverage he is doing what is known as perfecting the lien. Likely his boss or bank examiner chewed his butt for not already having it done. John
Edited by John Burns 9/20/2016 11:31
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