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UCC Secured Party Representative Service – Explained

UCC, Online UCC System, Revised Article 9

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” of the secured party to appear on the UCC financing statement. Here’s the excerpt from RA9:

(a) Subject to subsection (b), a financing statement is sufficient only if it:
(1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the secured party; and
(3) indicates the collateral covered by the financing statement.

When a UCC-1 is filed with a UCC Secured Party Representative Service, the representative’s name appears on the financing statement, not the secured party’s name. In the instance of an inquiry on a UCC with a representative named instead of the secured party, the secured party representative forwards all authenticated inquiries to the secured party to respond directly, at the secured party’s discretion. The representative’s obligations end there.

Secured parties can still perfect their security interest when filing a UCC-1, but exposure to competitors’ secured party searches is greatly limited; secured party searches no longer are an option for these filings, which keeps the secured party’s debtor names out of sight from their competitors’ secured party search gaze. Debtors names remain secure from competitors.

To learn more about UCC Secured Party Representative Service from First Corporate Solutions, please contact us here or give us a call at 800.406.1577.

Additional Resources

  • Basics of the Uniform Commercial Code and Article 9
  • Tips for Reducing UCC Filing Costs


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