It is common in agreements between two parties to put in place terms that are designed to enforce the agreement or to provide penalties if the agreement is not honored completely. These are referred to as security agreements. A security agreement is typically an addition to the primary agreement and states the terms, in advance of what will be done in the event the contract is not full executed.
A few examples of security agreements
* Money or penalties may be payable if a contract is not completed or completed on time
* The original agreement may become void and unenforceable
* The parties may have the option to renegotiate terms such as interest rates or payment terms