Uniform Commercial Code Agreement For Services
Description
How to fill out UCC1-AD Financing Statement Addendum?
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FAQ
Does the UCC apply to all sales transactions? No. The UCC applies to the sale of goods. But it doesn't apply to the sale of real estate or to the sale of services.
The sale of 1,000 widgets from one company to another is a good example of a UCC application. UCC lien against collateral. A lien can be described as a right to keep a certain property belonging to another person until they pay a debt they own. UCC lien is a claim against business assets.
Does the UCC apply to all sales transactions? No. The UCC applies to the sale of goods. But it doesn't apply to the sale of real estate or to the sale of services.
There are a lot of transactions that the UCC can apply to, including buying or selling equipment for your business or borrowing money. There are two large categories of transactions where the UCC does not apply: services and real estate transactions.
The State of Florida Universal Commercial Code (UCC) has recently filed a financing statement form in your name. This statement outlines the collateral that will cover the Secured Party if you default. It is important for you to keep your own record of this statement and fully understand them.