Risk Management Blog

Do you have questions about how your perfected security interest will be affected by a federal tax lien? Are you at risk to losing priority in regard to after-acquired collateral in the event a federal tax lien is filed against your debtor? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., gets asked questions like this all the time, and has taken the time to write some answers regarding federal tax liens. You… >> READ MORE

First Corporate Solutions is pleased to present our eBook entitled Purchase Money Security Interests: Purchase Money Rules in Equipment and Inventory. Authored by Attorney Bennett L. Cohen of Cohen, Salk & Huvard, P.C., this eBook provides answers to all of your PMSI related questions including: How is a PMSI created? What obligations qualify as a PMSI? Does a PMSI in inventory prime a previosuly perfected interest in accounts? How… >> READ MORE

Filing offices have reopened across the country, but issues may linger and impact perfection of UCC filings But be aware, there are issues at jurisdiction filing offices Fortunately, some best practices can help alleviate those issues and assure your portfolio remains compliant. But before we review those best practices, let’s look at the issues. Many jurisdictions curtailed or stopped services, like over the counter services,… >> READ MORE

So you’ve done your lien searching and entity verification, you’ve searched the courts for pending litigation and bankruptcies, and you’ve perfected your security interest by filing your Financing Statement…now what? Post-filing due diligence is just as important as all the searching you do pre-filing to qualify a new debtor. In fact, why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide… >> READ MORE

We’re all only human. Try and try as we may to eliminate missteps and foul ups, they still occur. We do our best to mitigate the damages and to learn from our mistakes, maybe make changes to procedures and equipment and look to further educate ourselves on whatever we’re doing, but even then, as the saying goes, things happen. Same is true in the world of secured transactions when perfecting a security interest with a UCC filing.… >> READ MORE

The demand for Secured Party Representative Services continues to grow, and the changing face of the asset based lending/factoring world is at the center of its growth. With new lenders bringing new methods with new ideas on how to utilize technology to infuse cash into various business types, the competition for customers is as fierce as ever with lenders reacting and adapting to the evolving landscape. One of the tools relied upon by… >> READ MORE

The International Factoring Association’s annual conference was held last week, this year hosted in Scottsdale, AZ. Again First Corporate Solutions was there to mingle and partner with the familiar faces we’ve come to know and enjoy over the many years of our participation. But more than ever before we were struck by the vast number of new people and companies in attendance, a reflection of the changing landscape of the factoring world… >> 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

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