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Idaho UCC Security Interests In Idaho Crops For Provision Of...

Idaho Crops

Name: Idaho UCC Security Interests In Idaho Crops For Provision Of Agricultural Chemicals
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.62 (218 reviews)

Category:

Idaho Contracts - Statewide - Uniform Commercial Code

State:

Idaho

Control #:

ID-UCC-AC-1

Format:

Instant download

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Description

Security Interests In Idaho Crops For Provision Of Agricultural Chemicals form for suppliers of chemical to gain security interest in crops of grower to be filed the Idaho filing office.

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FAQ

A UCC filing ensures you are a secured creditor and therefore in the best possible position to get paid. In addition, a Purchase Money Security Interest filing provides the priority right of repossession of your inventory or equipment at default or bankruptcy. You define default in your security agreement.

Filer Information. Name and phone number of contact at filer. Email contact at filer. Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.

For a security interest to attach, the following events must have occurred: (A) value must have been given by the Secured Party; (B) the Debtor must have rights in the collateral; and (C) the Secured Party must have been granted a security interest in the collateral.

In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).

UCC-1 Financing Statements do not have to be signed by either the Debtor or Secured Party; however, they must be authorized.Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.

Security interests for most types of collateral are usually perfected by filing a document known simply as a financing statement.

In order for a security interest to be enforceable against the debtor and third parties, UCC Article 9 sets forth three requirements: Value must be provided in exchange for the collateral; the debtor must have rights in the collateral or the ability to convey rights in the collateral to a secured party; and either the

Also known as security documents. Collateral documents include any documents granting a security interest in collateral by the borrower, parent or subsidiary in favor of the lender and all other documents required to be executed or delivered pursuant to those documents.

This practice note discusses the requirements for the attachment and perfection of consensual security interests in personal property under Article 9 of the Uniform Commercial Code (UCC). A security interest is said to attach to collateral when it becomes a right that is enforceable against the debtor's property.

Idaho Crops

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