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!
Demand Letters 101
Demand letters can expedite payment, allow you to maintain control of your collection process and save you money. Download this infographic to see what information you should include in your demand.
Secure Receivables in the U.S. and Canada: UCC vs. PPSA
The U.S.’s Article 9 of the Uniform Commercial Code (UCC) and Canada’s Personal Property Security Act (PPSA) are sets of law that govern commercial transactions between states or provinces. In this infographic, we compare the similarities and differences between the UCC and PPSA.
Learn More about Lien Waivers
In this NCS Extra Credit installment, Jennifer Mach (NCS Customer Relations Specialist) and Jerry Bailey (Executive Sales and Education Services Manager) discuss Lien Waivers.
UCC Filings: Blanket vs. PMSI
There are primarily two types of secured transactions under Article 9 of the Uniform Commercial Code: Blanket Filing and Purchase Money Security Interest (PMSI) Filing. Both filings can protect your receivables, but which is right for your business?
Check out this infographic to learn more about Blanket and PMSI filings
The 9 Documents Every Collector Should Have
Collecting a past due receivable can be difficult, but if your collector has the necessary documentation, debt recovery becomes easier. Providing the documentation at the time the collection is placed facilitates communication with your debtor regarding the past due receivable and it also improves efficiency.
Check out this infographic for the 9 documents you should provide to your collectors.
Understanding Demand Letters and Their Place in the UCC and Mechanic's Lien Processes
Download this whitepaper to learn more, including the demand letter differences for UCCs and mechanic's liens, plus a FREE demand letter sample!
Do You Know the Real Cost of a Write Off?
It is important to understand the costs associated with a write off. It’s not as simple as “We wrote off $50,000 so we just need to make $50,000 elsewhere.” Consider a write off of $50,000 at a 30% margin. You would have to generate $166,667 in additional sales to recover that lost profit.
Learn more when you download this infographic.
UCC Article 9 & the PPSA: Vesting Assets in Australia
Author, Peter Mills, Special Counsel
Many creditors (often being sellers or consignors of goods) register a UCC-1 Financing Statement under U.C.C. Article 9 (called "Article 9") against their debtors. A UCC is typically filed, so that in the event the debtor files for bankruptcy protection, the creditor can recover their property and fixtures from the trustee controlling the bankruptcy.
This paper looks at how these principals apply in Australia under the Personal Property Securities Act 2009 (Commonwealth of Australia) (called "PPSA") and the laws related to bankrupt companies, as to the rights of creditors who must perfect by registration, with case examples.
U.S. and other foreign companies who were unaware of the PPSA have already suffered loss. Creditors who deal with Australian businesses should obtain advice from Australian lawyers on their contracts involving Australian businesses, or assets located in Australia, and how to comply with the PPSA.