Resource Guide for Legal and Financial Professionals
Our guest contributor, Natalie Follmer of RMP Capital Corp, shares with us this week how to perfect a security interest and secure your position as a secured lender / factor. In the funding world, UCC financing statements are essential in doing business. They are a vital piece to the puzzle and can cause major problems if filed incorrectly. When it comes to perfecting a financing statement, there are many items to consider and it’s…READ MORE
First Corporate Solutions is pleased to announce the addition of Virginia UCC data to our UCC library of states, available for searching Monday, January 26, 2015. Document images will be added soon to complement our Virginia solution and provide efficiency not accessible at the Virginia SOS itself; as you may already be aware, the Virginia SOS does not have document images online and they must be ordered separately. Until the images…READ MORE
As asset-based lenders and factors, you are aware that different loan types provide different risks and rewards, and as lenders and risk takers you look to capitalize on this fact. Because of the nature of your lending practices, there are specific solutions that have been designed to monitor a perfected security interest and assist secured parties in maintaining their perfected security interest once a UCC financing statement has been filed. Many…READ MORE
One effect of Revised Article 9 and its implementation has been to better clarify and standardize naming conventions for entering debtor names onto a financing statement. These conventions are not only a guide to successful completion of the forms in order to perfect a security interest, but also to successful searching for financing statements in the indexes in which they are filed. But what about searching indexes that include other…READ MORE
Have you noticed a wave of calls from your customers to renegotiate the terms of their security agreement? Does it strike you as odd that so many are calling you all at once? Perhaps it’s not odd at all but instead an indication that a competitor has obtained a copy of your customer list and is reaching out directly to each and every one of your clients on it. “No way!” you might say. “How did that happen?” Well, it’s…READ MORE