Level of Security. A creditor should aim at a cost-effective security device that offers the most protection. A creditor will usually be better secured when there is strong collateral that does not depreciate. Real estate will usually be a better option than movable property. The creditor will also want security that will defeat other creditors or privileged claims. For instance, a mortgage is vulnerable to tax and labor claims, as opposed to a guaranty trust which defeats tax and labor claims. Implementation. Cost of putting the agreement in place (transactions costs) should be considered. A pagaré or a title retention clause are immediately implemented and inexpensive. While the guaranty trust is a strong option, it requires transfer of title, which adds challenges during the paperwork, as well as cost. Enforcement. The security device chosen should ideally allow an effective and efficient process for enforcement. Any of the security devices that offer a privileged action will always be a better option, as litigation will usually take less time and might even create incentives for a defendant to settle and pay early in the case.