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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Are You Frustrated by Missing Documents at Your Closings?

November 07, 2019 UCC, Corporate, Due Diligence, Tips Something

Familiar with that feeling? Of course we’re all looking for ways to improve efficiency and, on this topic, there are some steps you can take that may help save time and streamline processes so you’re ready when it’s time and you’re not frustrated by missing documents at your closings. Don’t wait until the last minute. This seemingly simple tactic is vital to assuring you have the documents you need when you need them. If you…READ MORE

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API for UCC–Are They All The Same?

October 03, 2019 UCC, Online UCC System, Due Diligence, Reduce Financial Risk Something

In a word, no. The emergence of API for UCC, with its increased efficiency and enhanced compliance capability, has already occurred and the implementation is spreading. UCC data and portfolio management providers have moved quickly to develop API for UCC, making it another technology driven, value added differentiator to their UCC due diligence service packages. Much like how UCC portfolio managers and search engines vary in effectiveness…READ MORE

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Secured Party Liability for Failure to File Timely Terminations

September 26, 2019 UCC, Online UCC System, Due Diligence Something

Can a secured party be liable for failure to file timely finance statement terminations? According to Section 9-625 of the Uniform Commercial Code, yes. There can be secured party liability for failure to file timely terminations. But first, let’s take a step back. In Article 9-513, the section of the Uniform Commercial Code that regards Termination Statements, the below is found under subsection 9-513(b) to address how long a…READ MORE

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True Value of Customer Service

September 12, 2019 UCC, Corporate, Registered Agent, Online UCC System, Due Diligence Something

Want to talk to a live person…need to talk to a live person? How many are you required to speak with, and repeat your story, before you finally get want you want and need (hopefully)? Perhaps you can login to a website and hunt answers to your questions, utilizing help desks and live chats, very useful depending on the issues’ complexities, or lack thereof. But even for login credential relationships, the true value of Customer…READ MORE

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Top 5 Filing Mistakes on UCC1 Financing Statements

August 29, 2019 UCC Something

A Secured Party must file their UCC1 Financing Statement quickly and correctly In order to perfect their security interest. Inaccurate, incomplete or untimely filings can prove costly for lenders as they open the door for secondary parties to claim a priority position. 1. Failing to file under the exact legal name A UCC filing must properly identify the debtor to effectively perfect a security interest. To satisfy this requirement,…READ MORE

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The Benefits of API For UCC

May 10, 2019 UCC, Online UCC System, Product Update, Due Diligence, Reduce Financial Risk Something

Your growing UCC portfolio is a sign of your success. To support it, perhaps it’s time to consider upgrading your UCC Portfolio Manager by installing an API for UCC, an enhancement that consolidates your UCC management into one single system. Designed specifically to streamline and simplify your UCC processes and scale with your success, API for UCC gives you the power to manage your growing UCC portfolio efficiently while freeing you…READ MORE

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PMSI for Lenders and Legal Professionals

April 19, 2019 UCC Something

Attorney Bennett L. Cohen of Cohen, Salk & Huvard, P.C., authored our free eBook Purchase Money Security Interests:  Purchase Money Rules in Equipment and Inventory. In it you will find answers to all of your PMSI related questions including: How is a PMSI created? What obligations qualify as a PMSI? Does a PMSI in inventory prime a previously perfected interest in accounts? How do I obtain a PMSI in equipment or inventory? …READ MORE

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Free eBook: Lien-Related Post Filing Due Diligence

April 05, 2019 UCC, Due Diligence, Lien Monitoring Something

As a secured party, you need to know immediately if your debtor is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE eBook, we focus on lien-related post filing due diligence and what you can do as a secured party to maintain your perfected security interest. In it, you will find post filing due diligence insights regarding the below topics. Top 5 mistakes to avoid on UCC Financing Statements …READ MORE

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Equipment Finance & Purchase Money Security Interest (PMSI)

March 14, 2019 UCC, Online UCC System, Due Diligence Something

Equipment finance or leasing is a lending type that specializes in lending on specific collateral.  Equipment finance companies can vary greatly and tend to specialize on specific industries and often tend to be manufacturers (farm equipment, medical and dental equipment, freight, industrial equipment, etc.). One product that is unique to this industry is purchase money security interest packages, or PMSI.  A PMSI filing will allow a…READ MORE

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State Only Lien Monitoring? It’s Risky

March 01, 2019 UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring Something

When evaluating lien monitoring programs, programs that are designed to monitor your Financing Statements for lien filings that can prime your perfected security interest, it is important to recognize that many states do not maintain records of Federal Tax Liens or Judgment Liens Attached to Real Property at the state-level filing office. Nevertheless, these liens have the potential to prime a perfected security interest. That’s why,…READ MORE

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