Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

First Corporate Solutions CEO Samuel Hon Named Notable Business Leader in 2021

Company News

Let’s face it – 2020 was a tough year for business. The COVID-19 pandemic forced business leaders to pivot like never before. Altering the workplace to accommodate social distancing, sending staff off to work from home and then constantly monitoring the requirements to stay open as the rules were changed by local jurisdictions to help slow the spread of the pandemic became the rule. Luckily, there are many great business leaders… >> READ MORE

First Corporate Solutions to Sponsor Bulk Sale Class, Exhibit at California Escrow Association’s 59th Annual Education Conference

Title Related Topics, Events & Tradeshows

FCS will host an exhibit at this year's disco themed "Don't Stop Believing" CEA conference, as well as sponsoring and presenting company news and information at the bulk sale session. The conference runs October 23-25 at the Hilton in Costa Mesa, with the bulk sale presentation taking place Saturday at 8:30AM. FCS will host booth #15 and will offer information on the available products and services, conference swag and a prize drawing. The… >> READ MORE

Filing Office Closures due to Coronavirus (Updated 4/24/20)

Services / System Update

The impact of the coronavirus (COVID-19) is being felt worldwide and First Corporate Solutions is doing everything possible to maintain workflow capabilities and standards while this worldwide event plays out. There are, however, certain documentation processes that are out of our control, like closures or limitations to filing offices and court records due to quarantine or other action. Below is a list of filing offices that are being impacted… >> READ MORE

Innovation in the Face of Challenge: The 2020 IACA Merit Awards

Events & Tradeshows

First Corporate Solutions was once again proud to sponsor the 2020 International Association of Commercial Administrators’ (IACA) Annual Merit Award Ceremony. The IACA Merit Awards provides administrative offices with a forum to share successfully implemented changes in their home jurisdictions. The focus is always on innovation and this year’s entries did not disappoint. The judging for the Merit Awards takes effectiveness,… >> READ MORE

Application Programming Interfaces for UCC – Are All API for UCC Alike?

UCC, Online UCC System, Due Diligence

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 and it is now another technology driven differentiator added to their UCC due diligence packages. Much like how UCC portfolio managers and search engines vary in effectiveness and… >> READ MORE

Can A UCC Filing Be Terminated By The Debtor?

UCC, Due Diligence, Tips

In a word, yes, as long as there is no existing obligation to the lender and one follows a specific process. The process for debtors to terminate UCC filings on themselves is provided for in the Uniform Commercial Code and can be found here in Section 9-513 of the Uniform Commercial Code. That process includes the below steps: the Debtor must send an authenticated demand to the secured party the demand must be sent to the name… >> READ MORE

Interpleader:  What Is It And Why Is It An Effective Remedy In An Escrow Holder’s Arsenal? – Part I

UCC, Corporate

This week we introduce guest blogger and attorney Shelley Gould from the Law Offices of David B. Bloom. She delves into what an interpleader action is and how escrow officers can utilize this tool and why. Today’s post is the first of two parts; part 2 will be posted in next week’s blog. Please share your thoughts below. Interpleader clauses can be found in the general provisions of standard escrow instructions for the sale of a… >> READ MORE

Registered Agent, Process Agent, and Special Agency Explained

Corporate, Registered Agent

Having an agent to receive service of process (SOP) is not limited just to the formation or qualification of a business. Agents for SOP may be required in cross-border loan transactions or when registering with government agencies other than a Secretary of State or an equivalent special agency. Below we break down the different agent representation and their purposes. Companies forming or qualifying to do business are required to appoint… >> READ MORE

Tips to Choose the Right Title Search Company – Is Title Insurance Always Needed?

Title Related Topics

With impacts from COVID-19 changing so many things, you may be relieved to know that there are some things that remain the same. That is the case for certain title searches, depending on what they are intended for. Is an insured title product with a corresponding title policy required for all your title searches? Do you always need to pay for that premium? In today’s litigious society, the answer would seem to be yes. But is that… >> READ MORE

CEA Bulk Sale Seminar a Virtual Success

Events & Tradeshows

The California Escrow Association (CEA) is once again leading the way. Originally scheduled to be a one-day conference in Costa Mesa back in March, the California Escrow Association’s Annual Bulk Sale Seminar was called off because of COVID-19. But instead of canceling the event altogether, the CEA simply pivoted on today’s new realities and reschedule the event as a virtual conference. And what a success it has been, once again… >> READ MORE