Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Evolving Certification Techniques at State Filing Offices

September 27, 2010 UCC, Corporate

In late July, the California Secretary of State’s office announced that the Business Programs Division was making a change to the way they certify documents. Instead of attaching a separate certification page, state workers began applying certification by way of a stamp on the back of the final page of a document. Many other state filing offices have recently made similar changes to their certification procedures. A certified copy used…READ MORE

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3 Quick Tips for Effective Lien Searching

September 19, 2010 UCC, Due Diligence, Tips

Learning the ins and outs of lien searching can be daunting. It seems like there is so much to know! Beginning-level searchers often ask First Corporate Solutions for advice on how to conduct better searches. Here are three quick tips to help you gain confidence and hone your skills. 1. Maximize Results to Minimize Risk A good strategy for lien searching is to maximize your results in order to minimize your risk. This means, cast a wide…READ MORE

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Rejected UCC Filings v. UCCs Accepted With Errors

September 10, 2010 UCC

In previous blog posts and webinar events, we have talked at length about UCC filing mistakes and how to avoid them. This week's blog entry will tackle the subject of filing mistakes from a slightly different angle. In this post, we will about two categories of filing mistakes: rejected filings and filings accepted with errors. Rejected Filings The first category of filing mistakes we will discuss is a rejected filing. In these cases,…READ MORE

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Why Name Variations Matter in UCC Searching

September 03, 2010 UCC

In previous blog posts we have talked about the importance of a secured party listing the correct debtor name on their UCC1 Financing Statement. Remember, a UCC filing is only effective if it gets the debtor name right. A UCC filing that fails to properly identify the debtor by their exact legal name will not offer the secured party priority status to collect should the debtor default or file for bankruptcy. It is dangerous, however to apply…READ MORE

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