Risk Management Blog

So you have a signed security agreement, you’ve perfected your security interest with a first position UCC filing on your debtor, and you’re utilizing one or more post-filing monitoring services that search for and report events that can prime your perfected security interest. But there’s still more to do.   Depending on the situation, your UCC1 may require amendments to the originally filed document. These changes are introduced… >> READ MORE

Looking for Department of Revenue web pages for any of the 50 states and DC? We know the majority of our clients are at some point. For this reason, this week we have added weblinks to all the Departments of Revenue across the country. Much like other 50 state links we have been adding, you do not have to conduct multiple searches for websites to find what you need. We have it all on one page. Whether you are searching for information… >> READ MORE

Most of us have heard that a large number of businesses choose to file their organizing paperwork in the State of Delaware. In fact, more than half of the corporations that make up the Fortune 500 are incorporated in Delaware. Simple set up and business friendly laws help drive that. Aware of this, the State of Delaware offers a variety of preclearance corporate filing services to assist navigation through the incorporation process and… >> READ MORE

The next best thing. We’re always looking for it. What is it? Look at Fintech and its explosive impact on the lending community for a real time example of an industry being flooded with a river of what’s next. Same is true in the service industry community. What’s the next best thing? Who’s got it? How can I get it? Check out the FCS Compliance Control Program, an integrated lender-law firm portfolio management service that… >> READ MORE

Getting organized, eliminating clutter, consolidating and streamlining. We’ve all heard these buzz words, we’ve all worked towards accomplishing them. When something pops up that helps us do these things, we take advantage. Every little time saver helps as life around us gets faster and faster. Here at FCS it’s the same. As a service company, we’re committed to constantly striving to help our customers increase efficiencies while… >> READ MORE

In its June 5 Sunday edition, the Sacramento Bee published the investigative article Intrigue, offshore connections to Sacramento in ‘Panama Papers’ leak (see quotes below from the article). While First Corporate Solutions (FCS) is featured as a Sacramento-based service company, the investigation’s focus centers on the shortcomings and lack of transparency in the US corporate law system. It also confirms that FCS has done nothing wrong,… >> READ MORE

So you’ve determined for your UCC and lien searches who to search, what to search, and where to search. You’ve placed your order or performed the search yourself and it has been completed. The search results are in hand and now you must interpret what you’ve found. Are all search result reports the same? No, they are not. UCC search reports vary in appearance and contain different information depending on the data source. This reference… >> READ MORE

You’ve done all your due diligence. You’ve qualified your debtor, all your ducks are lined up. Now you just need to file your UCC and/or corporate documents. It’s just a technicality, right? The heavy lifting is done. And then your filing gets rejected! What happened? Well it could be any of a number of things depending on the filing office you’re interacting with, but one things for sure:  rejected filing cost secured parties… >> READ MORE

The Uniform Commercial Code (UCC), first published in 1952, is a collection of provisions that govern commercial transactions in the United States. The UCC itself is not law but instead a compilation of suggested best practices. Article 9 of the UCC regards Secured Transactions, that is “business dealings that grant a creditor a right in property owned or held by a debtor to assure the payment of a debt or the performance of some obligation”… >> READ MORE

You’ve probably been there. You’re performing your due diligence to qualify the credit worthiness of some new prospects, you’re doing your lien searches, your credit checks, your court research including bankruptcy, and if your prospects are entities, also your business entity research—what’s the exact legal name, are they in good standing, who are the officers, etc. To do all of this research, you have to go to this state’s… >> READ MORE