Deed of Release: security
Deed of Release of security given by a company, in the form of a Deed executed by the company which has granted the charge (chargor) and the beneficiary of the charge (chargee). It is suitable where the chargor is a company incorporated in England and Wales.
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When do I use this document?
- for the full release of a debenture or other charge granted by a company
- for a company which is incorporated in England and Wales
What are the key features?
- 8 clauses over 3 pages
- in the form of a Deed to be executed by both chargor and chargee
- wording for release of the charge and the property over which security has been granted
- warranties from the chargor and chargee
What else do I need to know?
A company (the chargor) may have granted security for its obligations under a contract, and in particular a loan agreement. The security could take the form of a charge over specific property of the chargor or a debenture constituting fixed charges and a floating charge over all of the chargor’s assets and undertaking.
Once the secured obligations have been discharged, the company has granted security (the chargor) should obtain a formal release of the security from the beneficiary of the security (the chargee).
When do I use this document?
- secured loan agreement for a secured loan of a fixed amount to be drawn in a single advance
- for a borrower which is a company incorporated in England and Wales
- for a loan repayable on a single repayment date or in instalments
What are the key features?
- easy to edit, with 21 clauses over 13 pages
- single advance of specified loan amount
- regular interest payments at either fixed or floating interest rate by reference to specified bank’s base rate of interest
- repayment either on a single repayment date or in instalments
- undertakings from the borrower, including to provide information to the lender and prohibition on granting security and additional borrowings
- events of default, including a failure by the borrower to repay the loan or interest, leading to the lender having the right to demand immediate repayment
What else do I need to know?
The security would need to be created and governed by a separate security document between the borrower and the lender, depending on the nature of the secured property or assets. Examples of security documents include:
- a charge over property
- a charge over shares
- a debenture, containing fixed and floating charges over all of the borrower’s assets and undertaking
What other documents are available?
For a form of unsecured loan document, see
For forms of unsecured and secured facility agreements, for advances of loans in several lump sums, see
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Updated by a lawyer on 02/09/2024
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