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Prohibition Of Retention Of Security Interest-B
PROHIBITION OF RETENTION OF SECURITY INTEREST-B
Seller in effecting shipment to buyer shall not reserve any security interest in the goods. In the event seller breaches this provision, seller shall [pay to buyer as damages or allow the purchase price for the goods to be reduced by the amount of] any interest charges andor finance charges paid by buyer in effecting any loan for the purpose of releasing the goods or the document of title to the goods from any security interest improperly reserved by seller.
This is a UCC-buying and selling form.
It is intended to be an addendum to other forms.