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Typical collateral For example, if you take out a loan to buy new machinery, the lender might file a UCC-1 lien and claim that new machinery as collateral on the loan. You would, of course, work with your lender to designate what the collateral will be before you sign any documentation committing to the loan.
Copies or Search for UCC/Tax Lien Filings Requests must be made on the Information Request Form (UCC11). To ascertain the number of pages in a document and determine the proper amount of payment for your request, contact the Clerk's Office at (804) 371-9733 or toll-free in Virginia at 1-866-722-2551.
Uniform Commercial Code Article 7 covers documents of title for personal property, including warehouse receipts, bills of lading, and other documents typically used for commercial trade.
UCC Filing Fees Type of FilingFiling FeeFinancing Statement$20.00 eachFinancing Statement Amendment$20.00 each(i.e., assignment, change, continuation, termination)Information Statement$20.00 each
?UCC? stands for Uniform Commercial Code. The Uniform Commercial Code is a uniform law that governs commercial transactions, including sales of goods, secured transactions and negotiable instruments. The Uniform Commercial Code is a comprehensive set of statutes created to provide consistency among the states.
The Uniform Commercial Code (UCC) provides standardized forms that can be used in various commercial transactions. These forms are not mandatory but are widely recognized and accepted in many states.
Under Virginia law, the sale of goods is codified in great detail in the Virginia Code, directly resulting from Virginia's adoption of the UCC.
Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor's assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.