UCC Filings Secure Your Equipment, Inventory and Receivables
Our holistic and cost-effective UCC filing programs will reduce your DSO, improve your cash flow and afford you the right to repossess your inventory or equipment. UCC filings can even increase your sales! With security in place, you can sell to previously unobtainable marginal accounts and increase your customer’s credit lines.
What is a UCC filing?
A UCC filing, also known as a UCC Financing Statement or UCC-1, is a document filed with the Secretary of the State which serves as public notice of a creditor’s security interest in certain collateral owned by their customer.
Minimize risk
Maximize profit
Peace of mind
Why File a UCC-1?
Protection. Yes, in an ideal business relationship, bills are paid in full and on time – every time. But in a credit-based economy, there is little chance for ideals. File UCCs to protect A/R, inventory and equipment, reduce write-offs and create sales opportunities.
Who Should File UCC Financing Statements?
If you are extending credit to your customer, you should implement a UCC filing program!
Distributors
Equipment Rental
Material Suppliers
Financial Institutions
Leasing Companies
Factoring Companies
We Have Options to Best Meet Your Needs
Whether you need a full service provider to manage the entire UCC filing process or simple want to outsource the burdensome task of processing and recording UCCs, we’ve got flexible solutions to best meet your needs.
- Essential UCC Filing Services: ideal for those who self-manage all data verification related to UCC filings and file PMSI in Equipment
- Premium UCC Filing Services: ideal for those who want a service provider to manage the entire UCC filing process
Which Filing Is Right for Your Business?
Not sure which best fits your business? Don’t worry, we can help!
Blanket
Purchase Money Security Interest (PMSI)
Consignment
Bailment
Warehousing
Installment / Promissory Note
Ready to Start a UCC Filing Process?
Feeling a little overwhelmed by the UCC filing process? It’s ok – our team is your team! When you partner with us you will have a dedicated Account Representative, a dedicated UCC Specialist, and access to a live support team to answer your questions.
Powered by our knowledgeable staff and fueled by technology, we’re prepared to assist with and manage all aspects of the UCC filing process for you. We believe everyone deserves to get paid for the work they do!
Education Center
Purchase Money Security Interest and Super-Priority
-
“NCS has been a true partner to us. They truly understand our business and work closely with us on the intricacies of UCC law and how it applies to our unique situations. They are never too busy to answer our questions and their input is knowledgeable and insightful. They have helped us grow our business while properly managing our risk portfolio through their best-in-class portal and reporting tools. Highly recommend them.”
-
We had a situation with a large volume customer with no personal guaranty who closed their doors unexpectedly…leaving us with a past due balance of $189,000…Without us being a secured creditor with a UCC filing in place, I truly believe that we would have only received cents on the dollar under the unsecured general creditors. Sysco Boston has been paid due to the utilization of the UCC and the services of NCS. NCS makes this process easy.
-
NCS has been outstanding with the entire process of transitioning our UCC records into their system for the filling, monitoring, and maintenance of our UCC records. Our records go back several decades; therefore, the transition has to be with a company that would help us every step of the way. NCS has exceeded all my expectations and has made our transition seamless.
-
NCS services have been invaluable to Kichler Lighting for many years. Since I attended an NCS seminar a number of years ago, we have done hundreds of filings and they have helped us save thousands of dollars. A number of our filings have allowed us to recover products and recoup funds that we would not have otherwise.
-
Using the Corporate Monitoring service NCS has been providing, our company has already identified two accounts with open credit limits which could have resulted in material losses: First, a $100,000 open credit limit and open accounts receivable. NCS identified the account as inactive with the State. Subsequent conference calls with the CFO of our customer found that the customer was “very close to running out of cash and it is unlikely to be funded further by outside investors.” Given such dire status provided verbally as well as the State standing, we reduced the limit to $0. Second, a $250,000 open credit limit. NCS identified the account as inactive with the State. HTA had no open exposure and decided to reduce the limit to $0 until the business returns to active status or until a sufficient explanation can be provided. As a general rule, HTA does not do business with companies that are inactive with the State without sufficient explanation and understanding.
Filing UCCs is one of the most common trade credit practices and unfortunately there are scammers trying to take advantage. Read How to Spot an Avoid a Common UCC Filing Scam to learn more.