Syracuse New York UCC1 Financing Statement Addendum

• Category: New York Secretary of State - Uniform Commercial Code
• State: New York
• City: Syracuse
• Control #: NY-UCC1-A
• Format: Word; PDF; Rich Text

Description

UCC1 - Financing Statement Addendum - New York - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement. The Syracuse New York UCC1 Financing Statement Addendum is a legally recognized document used to provide supplementary information or amendments to an existing UCC1 Financing Statement in the state of Syracuse, New York. This addendum plays a vital role in clarifying and expanding upon key details related to secured transactions, ensuring accuracy and transparency in commercial transactions. Keywords: Syracuse New York, UCC1 Financing Statement Addendum, secured transactions, supplementary information, amendments, accuracy, transparency, commercial transactions. Different types of Syracuse New York UCC1 Financing Statement Addendum may include: 1. Amending Addendum: This type of addendum is utilized when changes need to be made to the original UCC1 Financing Statement. It may involve rectifying errors, updating debtor or secured party information, or modifying collateral descriptions. The amending addendum ensures that the UCC1 filing accurately reflects any modifications made after the initial filing. 2. Continuation Addendum: When a UCC1 Financing Statement is about to expire, the secured party may file a continuation addendum to extend the validity of the original filing. This addendum is crucial to maintain the secured parties' vested interest and priority over the collateral. 3. Collateral Description Addendum: In cases where the original collateral description in the UCC1 Financing Statement is insufficient or inaccurately portrayed, a collateral description addendum assists in providing a more detailed and precise account of the collateral involved. This addendum ensures clarity in identifying the property or assets that secure the underlying transaction. 4. Termination Addendum: When a secured party no longer holds a security interest, a termination addendum is filed to terminate the UCC1 Financing Statement. This addendum is essential to release any liens or claims previously held and to confirm that the collateral is no longer encumbered. In summary, the Syracuse New York UCC1 Financing Statement Addendum serves as an essential tool in securing and documenting commercial transactions. Whether through amendments, continuation, collateral description, or termination addendums, the UCC1 Financing Statement Addendum ensures accuracy, transparency, and legal compliance in the state of Syracuse, New York.

The Syracuse New York UCC1 Financing Statement Addendum is a legally recognized document used to provide supplementary information or amendments to an existing UCC1 Financing Statement in the state of Syracuse, New York. This addendum plays a vital role in clarifying and expanding upon key details related to secured transactions, ensuring accuracy and transparency in commercial transactions. Keywords: Syracuse New York, UCC1 Financing Statement Addendum, secured transactions, supplementary information, amendments, accuracy, transparency, commercial transactions. Different types of Syracuse New York UCC1 Financing Statement Addendum may include: 1. Amending Addendum: This type of addendum is utilized when changes need to be made to the original UCC1 Financing Statement. It may involve rectifying errors, updating debtor or secured party information, or modifying collateral descriptions. The amending addendum ensures that the UCC1 filing accurately reflects any modifications made after the initial filing. 2. Continuation Addendum: When a UCC1 Financing Statement is about to expire, the secured party may file a continuation addendum to extend the validity of the original filing. This addendum is crucial to maintain the secured parties' vested interest and priority over the collateral. 3. Collateral Description Addendum: In cases where the original collateral description in the UCC1 Financing Statement is insufficient or inaccurately portrayed, a collateral description addendum assists in providing a more detailed and precise account of the collateral involved. This addendum ensures clarity in identifying the property or assets that secure the underlying transaction. 4. Termination Addendum: When a secured party no longer holds a security interest, a termination addendum is filed to terminate the UCC1 Financing Statement. This addendum is essential to release any liens or claims previously held and to confirm that the collateral is no longer encumbered. In summary, the Syracuse New York UCC1 Financing Statement Addendum serves as an essential tool in securing and documenting commercial transactions. Whether through amendments, continuation, collateral description, or termination addendums, the UCC1 Financing Statement Addendum ensures accuracy, transparency, and legal compliance in the state of Syracuse, New York.