(800) 952-5696

CLASNotes Blog

  • Home
  • CLASNotes Blog
Blog-Banner.png

Revised UCC Forms Take Effect July 1, 2023

Effective July 1, 2023, the International Association of Commercial Administrators (IACA) has introduced revised versions of the UCC1, UCC3, UCC5 and UCC11 forms.

Read More

Are Subtle Business Name Errors Leaving Your UCC's Unperfected?

According to the Uniform Commercial Code, a UCC Financing Statement is only effective if it properly identifies the debtor. A UCC filings that fails get the debtor name right will not perfect the underlying security interest and will not provide the[..]

Read More

MYTHBUSTERS: Don't Get Fooled by These Common UCC Filing Myths!

Secured parties must file their UCC Financing Statements quickly and correctly in order to perfect their security interest and gain a priority position to collect. Even small mistakes in the UCC filing process can prove costly since they open the door[..]

Read More

Liens: The Sleeping Giant Jeopardizing Turnaround Financing

By Jim Newman, Loeb Term Solutions

Liens, in and of themselves, are neither bad nor good; they just are. When a company needs financing or refinancing, the new lender will always run a lien search and find exactly what liens are currently encumbering the[..]

Read More

Examining the Effect of a UCC Continuation Filed After a Termination

During the question and answer period following a recent CLAS webinar, Common UCC Filing Mistakes and How to Avoid Them, an attendee asked a great question. She asked, “When a UCC is terminated, what happens when the UCC is then continued before its[..]

Read More

Reduce Risk! Be Sure to Include the Right Party Names on UCC Searches

When performing a UCC search as part of a due diligence investigation, it is imperative to search for liens under the right party names. Conducting searches under the incorrect names, excluding important parties from the search effort or failing to[..]

Read More

Official or Non-Official UCC Search: Which is Right for Your Needs?

There are many options available for those who need a UCC search. It is important to have a good understanding of the various types of UCC searches you can choose from so you can make an informed decision about which option best meets the needs of your[..]

Read More

Credit Agencies Cease Reporting Tax Liens and Civil Judgments

The nation’s three largest credit-reporting agencies: Equifax, Experian and TransUnion, have implemented new stricter standards for the reporting of tax liens and civil judgments.

Read More

No Surprises: Minimize Risk with UCC and Corporate Debtor Monitoring

After filing a UCC Financing Statement, it is important to monitor the public record for changes. Changes in the public record reflect activity that may affect the status of your UCC filing and jeopardize your priority position to collect.

Read More

The Value of the Five-Part Due Diligence Search

When vetting a potential borrower, it’s important that you learn everything you can about their financial history. Public record searches provide critical information about an applicant’s existing liens and other financial obligations that could

Read More

Subscribe to Email Updates

Recent Posts