King Washington UCC1-AD Financing Statement Addendum is a legal document that serves as an extension or attachment to the standard UCC1 financing statement, providing additional details and clarifications regarding secured parties, debtor information, collateral, and other pertinent information. This addendum is crucial in ensuring transparency and accuracy in financial transactions, as it enhances the UCC1 form's comprehensive nature. The King Washington UCC1-AD Financing Statement Addendum typically consists of various types, including: 1. Secured Party Addendum: This addendum specifies the secured party's details, including name, address, contact information, and any additional information relevant for identification purposes. It helps establish the legal relationship between the secured party and the debtor. 2. Debtor Information Addendum: This type focuses on providing detailed information about the debtor, such as their legal name, address, social security number, taxpayer identification number, and other identifying details. This addendum is necessary to properly identify the debtor and ensure accurate record-keeping. 3. Collateral Addendum: The collateral addendum section outlines the specific assets or properties that serve as collateral for the loan or financial arrangement. It includes a detailed description of the collateral, its location, and any amendments or changes to the initial UCC1 statement. This is vital for accurately identifying and securing the collateral against the debt. 4. Amendments and Continuations Addendum: As financial arrangements evolve over time, amendments to the UCC1 filing may be required to reflect any changes in the collateral, secured parties, or debtor information. The amendments and continuations addendum enables the inclusion of such changes and ensures the UCC1 filing remains up-to-date and valid. The King Washington UCC1-AD Financing Statement Addendum is instrumental in safeguarding the rights and interests of all parties involved in a financial agreement. By providing detailed and updated information, this addendum ensures transparency, accuracy, and legal compliance in financial transactions.
King Washington UCC1-AD Financing Statement Addendum
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FAQ
The Uniform Commercial Code (UCC) is a standardized set of business laws that has been laid for the regulation of financial contracts. It has been fully adopted by most states in the US including Florida.
The "Florida Secured Transaction Registry" is a centralized Uniform Commercial Code (UCC) filing and retrieval system containing initial financing statements, amendments, assignments, and other UCC filings as authorized by Florida Statutes Chapter 679.
The filing fee is $25 per document. make checks payable to the Georgia Superior Court Clerks' Cooperative Authority.
UCC Filing in Georgia UCCs, fixtures, mortgages and deeds are all filed at the county. Instead of having the Secretary of State as its central filing office for UCCs, the state utilizes an outside vendor, the Georgia Superior Court Clerks' Cooperative Authority, also known as the Clerk's Authority or GSCCCA.
Effective July 01, 2001, all UCC filings are to be made with the Texas Secretary of State. County Clerks will no longer take UCC filings. This does not affect UCC's filed in the Real Property office. Only terminations will be filed by the County Clerk's office.
A UCC financing statement also called a UCC-1 financing statement or a UCC-1 filing is a legal form that allows a lender to announce a lien on an asset to secure a loan. By filing the UCC financing statement, the lender is giving notice that it has an interest in the property listed in the filing.
When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.
Adopted by all 50 states, the Uniform Commercial Code (UCC) is a set of rules that regulates business transactions across the US.
UCC Real Property Related Financing Statements are required to be filed and recorded in the real estate records of the office of the clerk of superior court in the county where the real property is located.
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).