APIs (Application Programming Interfaces) For UCCs—It’s A Big Deal (Part II)
UCC, Online UCC System Something
Direct B2B Interfaces for Public Records Transactions
We blogged a quick overview of APIs a couple of weeks ago and noted how API technology has made its way into public records and UCC processes and procedures.
But how?
APIs for public records transactions include:
UCC Search
Business Entity Search
UCC Filing
Monitoring of Debtors' UCC/Lien activity and Business Entity changes
Monitoring activity in US District… >> READ MORE
APIs (Application Programming Interfaces) For UCCs—It’s A Big Deal (Part I)
UCC, Online UCC System Something
Are you a secured party? Do you perform lien searches, file UCCs and then monitor your perfected security interests to maintain priority? Solutions to streamline and improve UCC perfection processes continue to evolve and continue to improve your searching, filing and monitoring experiences.
The latest? Application Programming Interfaces, aka APIs, are now center stage. You’ve heard the term probably, API. But what is an API anyway?
Here’s… >> READ MORE
Missing Liens In Your Search Results? The Cure May Be Broad-Based Debtor Name Searches
UCC, Online UCC System, Reduce Financial Risk Something
You have many options to perform a UCC 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 in which we discussed the benefits and drawbacks of each of these… >> READ MORE
Single Extra Space Creates Seriously Misleading UCC Debtor Naming Error
UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips Something
A recent court ruling in Wisconsin once again has affirmed the supreme importance secured parties must place on their data entry procedures when naming debtors on financing statements to perfect their security interests.
A recap of the case can be found here. Once again, a typo in the debtor name created a UCC filing that was judged to be seriously misleading, and therefore left the secured party’s security interest with the debtor… >> READ MORE
Tips For Lien Searching: Who, What, Where
UCC, Online UCC System, Due Diligence, Reduce Financial Risk, Tips Something
Your due diligence calls for lien searches. Who should you target? What lien types should you search for? Where should you search for them? These are all fundamental questions whose answers help you better uncover your prospect’s financial situation and better evaluate their credit worthiness.
You know it’s important to search the public record, to uncover existing financial obligations and encumbrances, to learn and know a prospect’s… >> READ MORE
FCS Releases Michigan and Tennessee Data to Online UCC & Lien State Search System
UCC, Services / System Update, Online UCC System, Product Update Something
First Corporate Solutions (FCS) is excited to announce the release of Michigan and Tennessee data to our online UCC search system. Effective immediately, active online users can search our reliable and current indices for Michigan and Tennessee data utilizing FCS’ state-of-the-art search engine designed to uncover name variations and potential hidden liens. Complementing this is our expert and experienced staff of dedicated account… >> READ MORE
Choose The Right API For UCC
UCC, Online UCC System, Product Update, Due Diligence, Reduce Financial Risk Something
Your growing UCC portfolio is a sign of your success. To support it, perhaps it’s time to consider upgrading your UCC Portfolio Manager by installing an API for UCC, an enhancement that consolidates your UCC management into one single system. Designed specifically to streamline and simplify your UCC processes and scale with your success, API for UCC gives you the power to manage your growing UCC portfolio efficiently while freeing you… >> READ MORE
Can A Terminated UCC Not Really Be Terminated?
UCC, Online UCC System, Due Diligence, Reduce Financial Risk Something
Can a terminated UCC not really be terminated? The Uniform Commercial Code says terminated UCC filings are no longer effective.
So how can a terminated UCC not really be terminated? There are two scenarios.
When the UCC record contains more than one secured party of record.
When there is more than one secured party for a single UCC, any of the secured parties can file a termination statement on behalf of all the secured parties.… >> READ MORE
UCC Secured Party Representative Service – Explained
UCC, Online UCC System, Revised Article 9 Something
UCC Secured Party Representative Service provides protection for secured lenders by using a representative’s name (instead of their own) in the Secured Party box on UCC Financing Statements.
Under Revised Article 9, UCC Section 9-502(a)(2), a financing statement must provide the name of the secured party or representative of the secured party. The Secured Party Representative Service key aspect is that the code allows “a representative”… >> READ MORE
Secured Creditors and Unsecured Creditors: What’s the Difference?
UCC, Online UCC System, Due Diligence, Reduce Financial Risk Something
There are secured creditors and unsecured creditors. But what is the difference between secured creditors and unsecured creditors?
Secured Creditors are creditors that hold a lien on its debtor’s property, whether that property is real property or personal property. The lien gives the secured creditor an interest in its debtor’s property that provides for the property to be sold to satisfy the debt in cases of default. The secured… >> READ MORE