Should You Serve the Preliminary Notice Before or After You Begin Furnishing?
Some states require the preliminary notice be served BEFORE or AFTER you begin furnishing. Download this resource to learn which states require the notice be served before furnishing, after furnishing & as soon as possible.
Protect Your Consignment Sales with UCC Filings
If you allow allow customers to possess goods under a “consignment” agreement prior to the actual sale, you are at risk of losing your rights in the goods.
To protect your interest, you must perfect a security interest in those goods under Article 9 of the Uniform Commercial Code (UCC) prior to delivery. Download this resource to learn more.
Supplying to the Foodservice or Hospitality Industries? Protect Your Company with UCC Filings.
The foodservice industry is on track to lose $240 billion in sales by the end of 2020. As a creditor supplying goods, equipment, or services to the foodservice industry, how can you reduce your credit risk? UCCs.
In this article, you will learn the basics of UCC filings, the important role UCC filings play in these industries, which UCC filing is right for you and what steps to take in the event your customer defaults and/or sells the business when you have a UCC in place.
The Benefits of Secured Transactions and the Uniform Commercial Code (UCC)
Article 9 of the Uniform Commercial Code provides an opportunity for trade creditors, like you, to secure your goods by utilizing the personal property assets of your customer. Download this resource to learn more about the benefits of UCC filings and how they can protect your receivable if your customer defaults or files for bankruptcy protection.
When Should I Consider Amending My Preliminary Notice?
If you serve a preliminary notice, there are pieces of information within the notice that are statutorily required. If that information changes and you have already served your notice, you may need to resend the notice. Download this resource to learn more.
Mechanic's Liens & Bond Claims: The Fundamentals of the Preliminary Notice
Items covered in this article include a brief history of the mechanic’s lien process, the importance of job information, the value of the Notice of Commencement, various preliminary notice requirements by state, common preliminary notice mistakes, what you should know if you are supplying rental equipment and who to serve when furnishing to a leased property.
The Importance of Correctly Identifying the Debtor in Compliance with Article 9 of the Uniform Commercial Code
The proper spelling of a debtor’s name on a UCC Financing Statement is a fervently litigated issue. The UCC Article 9 registry system is designed to permit creditors to make a security agreement public by filing a UCC Financing Statement. UCCs are indexed by the name of the debtor, in part to facilitate a streamlined search and to identify pre-existing security interests.
Download this whitepaper to learn more about the impacts of seriously misleading, standard search logic, noise words, name changes & avoidance, on your UCC filing.
Bonding Off Liens. Around, Off and Over: Discharge Bonds & Mechanic's Liens
Discharge bonds may be used in lieu of a mechanic's lien, but fear not! If your mechanic's lien is "replaced" by a bond, take a deep breath & relax, because you still have security - and being a secured creditor is imperative!
Download this whitepaper to learn more about what it means to bond off a lien, who benefits from the bonding off of a lien and how the bonding off of a lien can change the rules.
An Ounce of Prevention: Why Every Credit Professional Should Use UCC Filings
Extending credit is inherently risky, which is why credit professionals take appropriate steps to qualify customers.
Credit professionals should not overlook the immense value of a properly perfected UCC filing. In the event your customer defaults or files for bankruptcy protection, a properly perfected UCC filing elevates your status to that of a secured creditor, putting you in the best possible position to get paid.
Download this whitepaper to learn why you should be filing UCCs, the various types of UCC filings available and how to get your sales team & customers on board!