Risk Management Blog

Financing Statements are filed as a means to protect a creditor’s investment and give them a mechanism to collect should the debtor default. However, a filed UCC Financing Statement is not necessarily enough. To provide priority protection for the creditor, a UCC1 must be properly filed in accordance with the Uniform Commercial Code (The Code) and the specific rules of the jurisdiction’s filing office. Since only a properly filed UCC… >> READ MORE

In concert with Commercial Finance Associations’ annual conference, below are links pertinent to CFA members about lien and documentation due diligence from previous blog posts. First Corporate Solutions is proud to once again support the CFA and we invite you all to explore the links below and then drop by our exhibit booth later this week. Let us know any questions and see you in Austin! Are you considering ways to streamline and… >> READ MORE

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Once a creditor has filed their UCC Financing Statement they’ll likely want to do all they can to maintain their priority position throughout the life of the loan. Lien-monitoring programs offer a great way for a secured party to keep a watchful eye on other lien-holder activity against their debtor. The concept behind lien-monitoring is that the sooner a creditor knows about a lien, the sooner they can act to protect their interests.… >> READ MORE

Considering all the effort and resources you put into qualifying your debtors and perfecting your security interests, it's good to know there are some excellent tools you can utilize to help maintain that priority and make your efforts pay off. Why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide to perfect your security interest by filing a Financing Statement in the correct jurisdiction, if… >> READ MORE

First Corporate Solutions is once again proud to sponsor the California Escrow Association's 66th Annual Conference being held in Costa Mesa October 8-9, 2021. The conference features industry speakers, educational sessions, and legislative updates. These sessions are always informative with countless highly connected and informed speakers sharing their insights. As a long-time partner to California’s Bulk Sale Escrow Officers, FCS… >> READ MORE

Timing is critical when filing business entity documents . In many cases, proof of filing is a necessary step towards accomplishing other important tasks such as entering into contracts or opening a business bank account. Whether filing original formation documents or other papers related to the maintenance of a business entity, a rejected document can cost a filer time they can’t really afford to lose. There are many reasons why a filing… >> READ MORE

Delaware Secretary of State released their latest holiday schedule: Friday, November 10, 2023 State Holiday – Veterans Day (observed) – The Division of Corporations will be closed.** Wednesday, November 22, 2023 There will be no change in the regular hours of the Division - the 4-12 shift will be working 4 P.M. to 12 Midnight. Thursday, November 23 & Friday, November 24, 2023 State Holidays - Thanksgiving Day and day… >> READ MORE

In times of economic volatility and uncertainty, lenders face increased challenges in managing risk. In times like these, due diligence becomes a critical aspect of lending practices, particularly when it comes to the Uniform Commercial Code (UCC). By thoroughly understanding and implementing the principles of the UCC, lenders can effectively navigate through an economic downturn while minimizing their risk exposure. Key Challenges During… >> READ MORE

In last week’s blog post, we noted that a creditor files a UCC Financing Statement to give public notice of their interest in a debtor’s collateral and to secure a priority position to collect should the debtor default. This week we are going to talk a little more abut UCC Financing Statements by looking at the National UCC Financing Statement form. You can follow this link to the National UCC Financing Statement form and Instructions:… >> READ MORE