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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Secured Party Representative Services Continue To Grow

UCC

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 many to create prospect lists is a secured party search in UCC indices targeting specific secured parties, typically competitors. Such a search looks to uncover previously filed UCCs of the targeted secured party to learn who their debtors are on the UCCs—to learn the targeted secured parties’ customer list.

As this technique has become more and more prevalent, the need for secured parties to respond has grown along with it. How can secured parties perfect their security interests by filing a UCC without exposing their customer list to the public record?

The answer is Secured Party Representative Services by First Corporate Solutions. By choosing to enroll, a lender begins to remove its name as secured party from the public record and UCC indices, therefore making the secured party search ineffective.

Does your firm’s sales and marketing departments perform Secured Party Searches to create prospect lists? Does your firm use a Secured Party Representative Service? Please share your thoughts and experiences below. Contact us if you are interested to learn more about FCS Secured Party Representative Service and how it can help safeguard your client list.

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