A General Security Agreement (GSA) is a document that records a security that a debtor enterprise makes available to its creditor through a certain group of assets or all of the entity`s assets. The GSA registers the conditions that include the creditor`s right to register his interests in the Personal Securities Registry (PPSR), so that there is a public rating of this financial interest for the assets of the debtor entity. The first to register in the PPSR generally takes precedence in the event of insolvency, unless an instrument of subordination is available between insured parties that alters priority or the security is not valid. . . .