Risk Management Blog

The pandemic has caused much uncertainty in the lending ecosystem and will continue to do so since most industry experts expect an uptick in loan defaults. Today, more than ever, lenders are focused on minimizing their risks when entering a financial transaction. Two key components in the lenders’ due diligence process when entering a transaction are conducting consensual and non-consensual lien searches, and filing a UCC-1 against… >> READ MORE

In last week’s blog we discussed items to consider when evaluating proprietary online UCC search systems. You can read that post here. This week we look deeper at one aspect to consider in your evaluation process:  what is broad-based search logic and why is it important that your UCC and lien search solutions provide it? First, you need an understanding of the Model Administrative Rules (MARS) and the baseline they create. You can… >> READ MORE

An important perfection rule to Canada’s Personal Property Security Act (Ontario) changed on December 31, 2015. The change aligns Ontario with the US Uniform Commercial Code’s Article 9 with regards to Specified Collateral. Previously in Ontario secured parties were directed to perfect their security interests in Specified Collateral following the law of the jurisdiction regarding a debtor’s “location”—its “place of business”,… >> READ MORE

We continue our guest blog series on commercial lending this week with attorney Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. You may also want to check out his eBook: Important Revisions To Article 9′s Rules Regarding Individual Debtors. Deposit Account As Collateral: If a lender has a security interest in equipment or inventory and such collateral is sold and the proceeds deposited in a bank that is not the lender,… >> READ MORE

For those managing personal property transactions in California, it is important to understand and be prepared for recent legislation that has been passed to provide a safe harbor for proper entry of individual debtor names when filing and searching for UCC Financing Statements. Effective January 1, 2015, California will join the majority of states in adopting legislation which governs the proper name identification of individuals. This… >> READ MORE

[Updated: 2/10/2012] The California State Senate is debating a piece of legislation that could dramatically affect your business. Labeled SB 12, this legislation seeks to amend significant sections of the state Business and Professions Code, the Civil Procedure Code, the Revenue and Taxation Code and Article 6 of the Uniform Commercial Code. If passed, SB 12 will repeal the California Bulk Sales Law in its entirety. First Corporate… >> READ MORE

There are many options available for those looking to perform a UCC and lien search. There are certified searches that come directly from the filing office, state direct database searches that are available on a state’s website, and proprietary search systems that private service companies build and maintain. A while back, First Corporate Solutions published a blog series on evaluating state search options where we discussed the benefits… >> READ MORE

We have published a lot of material on the topic of UCC searching over the years. Effective UCC searching can save you time and money, so this topic has been popular among our readers. Today, we are starting a six part blog series on the nature of broad based searching and search logic as it relates to UCC searching. Enjoy our first post, and please remember that these blog posts are for educational purposes only; always consult your legal… >> READ MORE

The FCS Greatest Hits blog series continues today with more details on the features and benefits of searching with a proprietary UCC search system. And if you're looking to see an online UCC search system in action, don't hesitate to contact us for a free demonstration. Benefits of a Proprietary UCC Database Search System Let's take a look at the benefits of using a proprietary database to perform state UCC searches. What is a… >> READ MORE

As our readers know, in 2009, First Corporate Solutions (FCS) became active on several social networking sites. In addition to here on the blog, you can find FCS on: Facebook Become a fan on our Facebook page to track our trade show appearances and read insider industry tips on searching, filing and more! Linkedin Learn more about First Corporate Solutions by visiting our official company page Twitter Follow FCS on Twitter… >> READ MORE