Risk Management Blog

This post represents the final installment of our frequently asked questions blog series and it’s a big one. This week we will answer the question we get asked more than any other, which is, “When do I file my UCC3 Continuation Statement?” It is critical for a secured party to file timely continuations, as a lapsed filing ceases to be effective and opens the door for a subsequent filer to move into a priority position. The Uniform…READ MORE

Last week’s blog post offers some practical ideas of ways secured parties can reduce their UCC filing costs. Continuing the conversation on ways to make cuts from due diligence spending without increasing risk, this week we will answer question, “How can I reduce my costs for lien searching?” Self-search Much of the price associated with lien searching is the cost of labor. Working with an offline service provider can inflate due…READ MORE

The recession’s impact on the lending community has prompted many UCC filers to take a good hard look at their budgets in search of meaningful ways to reduce spending and increase profitability. As a result, First Corporate Solutions has seen a rise in the question, “How can I reduce my UCC filing costs?” When you think about it, this is not an easy question to answer. UCC filers face the tough task of finding ways to cut costs…READ MORE

For those of you who have never used the preclearance corporate filing service in Delaware, it really is a handy way to make sure you have drafted your document correctly. This service is particularly useful for documents that need to be processed as a rush, as you can be assured you will not encounter any problems or rejections once submitted. The state offers three tiers of preclearance service: routine, 24-hour, and 2-hour. The…READ MORE