Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

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

UCC, Online UCC System, Due Diligence Something

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 Something

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


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, can the lender claim a security interest in the deposit account as proceeds of its equipment or inventory?

UCC, Due Diligence Something

Do you have UCC questions?  Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., has the answers. You may also want to check out his eBook on Purchase Money Security Interests (PMSI). 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, can the lender claim a security interest in… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part Seven

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the seventh and final installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. Frequently Asked Question #8: Does a Borrower Obtaining Purchase Money Financing Create a Default Under the Security Agreement Between the Borrower and its Blanket Lien… >> READ MORE


Delaware Offers Preclearance Review of Corporate Documents to Reduce Rejections

Corporate, Due Diligence, Tips Something

The State of Delaware offers Preclearance Review of Corporate Documents to assist filers through the corporate filing process and reduce the number of filings that do not meet required criteria. Various preclearance corporate filing services are offered and their official review procedures are a convenient way to avoid potential processing errors. This service assures that you have accurately drafted your corporate document before formally… >> READ MORE


Post Funding Due Diligence—Don’t Lose Your Perfected Security Interests

Due Diligence Something

You’ve performed your pre funding due diligence. You’ve qualified your prospect and determined to move forward and fund. You’ve filed your UCC and perfected your security interest.   Now what?   After all the time and effort invested to best investigate the credit worthiness of your new customers and establish your priority position to collect in case of default, don’t stop there! Your job is just beginning. From Federal… >> READ MORE


Three Tips For Bulk Sale Escrow Officers In California

UCC, Due Diligence, Tips Something

Are you a Bulk Sale Escrow Officer? Then this blog post is for you! We’ve been supporting Escrow Officers handling bulk sales for close to a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in our next couple of blog posts we share some of tips we’ve learned. Tip #1: Search an individual seller’s name at any and all addresses Because individual business owners… >> READ MORE


Solar Installations and Security Interest Perfection: What To Do?

UCC, Online UCC System, Due Diligence Something

In a recent blog post we discussed the solar power boom that is occurring across the United States and abroad, and domestically how Congress’ extension of the solar tax credit will help to continue fueling the boom. Financing solar installations is an evolving process, with solar financiers typically offering three solutions: leases, power purchase agreements (PPAs), and loans. Many solar financiers today offer at least the following… >> READ MORE


Solar Financing And Tools To Perfect Security Interests

UCC, Due Diligence Something

In a recent blog post we discussed the solar power boom that is occurring across the United States and abroad and domestically how Congress’ extension of the solar tax credit will help to continue fueling the boom by helping each solar wholesale distributor and investor. In last week’s blog post, we discussed the options solar financiers have for perfecting their security interests. In today’s post, here’s how First Corporate… >> READ MORE


Fixture Filing Perfection Of Your Solar Installation Security Interests

UCC, Online UCC System, Due Diligence Something

Over the last few weeks, we’ve blogged about the solar installation boom and the options available to solar financiers to perfect a security interest on their solar panel installations. The filing of fixtures is one such option and utilized actively when perfecting residential solar panel installs. For fixture filings, a legal description of the property is needed on the financing statement to disclose where the fixture is to be. Fixture… >> READ MORE