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The phrase "act as security for" is correct and usable in written English.
It can be used in contexts related to finance, loans, or legal agreements where one party provides collateral or guarantees for another party's obligations.
Example: "The bank required the property to act as security for the loan."
Alternatives: "serve as collateral for" or "function as a guarantee for".
Exact(2)
The final unifying moment came when private security firm G4S made a hash of its contract to act as security for the Games.
After a period of indecision as to where the division was to be best used, it moved to Minqar Qaim with the 20th Battalion remaining behind at Matruh for two days to act as security for engineers laying minefields before joining up with the division.
Similar(58)
In the lawsuit filed in Manhattan, Credit Suisse says Reijtenbagh's "activities comprise a brazen conspiracy" to "cheat and deceive on an unmatched scale". Credit Suisse claims that recently Reijtenbagh fraudulently transferred the private equity stakes that acted as security for Credit Suisse's loans to an outside entity controlled by Reijtenbagh.
Last year, a surprise film hit in Serbia was a dark comedy called "The Parade," in a which a gay veterinarian and his homophobic friend, an ex-paramilitary man, travel across the former Yugoslavia in a pink Mini and recruit war veterans to act as security guards for a gay pride parade in Belgrade.
This can be done by hiring local, non-medical people to act as security guards or even orderlies, particularly for night shifts with few or no doctors consistently present.
This would allow time for the land value to increase and could act as security over the club's debt, which currently stands around £30m.
They prefer to act as private security for the illegal hunters rather than enforce the law.
Investors could determine what that sum is going to be, over time, and this (relatively) guaranteed income stream could act as a "security" for bondholders, allowing them to buy the bond with lower risk--thus making the bond more attractive, even at a lower rate of interest.
BofA had acted as custodian for stocks held by the pension plans and passed them along to Credit Suisse as security for loans made to Maxwell's private businesses.
"Their main function seems to be to act as a security blanket for senior officers - a way to avoid taking responsibility for the decisions they have to make.
At one point, he wanted me to find some ninja chicks to act as a security force for him.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com