UCC Document Community

Your supposed to reserve your rights whenever signing a contract....when you sign a ticket with this you turn it in to a contract very powerful

As a newcomer to this community, I found this entire discussion extremely helpful! I work in commercial finance and have been confused about UCC 1-308 for a while now. The distinction everyone has made between Article 1 general provisions and Article 9 secured transaction rules really clarifies things. It sounds like the key takeaway is that UCC 1-308 is about contract performance under protest, not about escaping secured transaction obligations or affecting UCC-1 filing validity. The practical advice about documenting these situations and treating them as potential red flags for difficult borrower relationships is valuable. I'm curious though - for those who've dealt with this regularly, do you find that borrowers who invoke UCC 1-308 are more likely to have payment issues or defaults later on? Or is it usually just a one-time notation that doesn't predict future behavior?

Last thing to consider - continuation filings. Oregon UCCs last 5 years, so you'll need to file continuations before they lapse. At $20 each, that's another cost to factor into your long-term budget. We use Certana.ai to track our continuation deadlines and verify the continuation forms match the original UCCs.

Thanks everyone for the detailed breakdown! This is super helpful. Sounds like I need to budget around $800-900/month for the base filings plus amendments, and start planning now for continuation filings down the road. The document verification tools mentioned (Certana.ai) seem worth looking into given how costly rejected filings can be. One follow-up question - for those doing high volume Oregon filings, do you have any recommendations for tracking systems to manage all the filing dates, continuation deadlines, etc? We're going to need something more robust than spreadsheets pretty quickly.

Update: Just tried searching Delaware UCC filings myself and got the same timeout errors. Definitely seems like a system-wide issue right now. Might want to wait until tomorrow or use an alternative search method.

I've been dealing with Delaware UCC search issues for months now. Their system seems to have gotten worse since their last "upgrade." For urgent searches like yours, I'd recommend calling their UCC division directly at the number Natasha mentioned - sometimes they can do manual searches or tell you if there's a known system outage. Also, if you're dealing with equipment financing regularly, it might be worth bookmarking some of the third-party tools people mentioned here as backup options. The state portals are just too unreliable for time-sensitive deals.

Welcome to the secured lending world! The UCC system really is the backbone of how secured transactions work. Once you get comfortable with the basics, you'll start to appreciate how the system protects both lenders and borrowers by creating clear rules for priority and notice.

One practical tip as you're getting started - create a UCC filing checklist for your team. Include items like: verify debtor's exact legal name, confirm proper collateral description, double-check filing jurisdiction, and set up continuation reminders. Having a standardized process will help prevent the common mistakes everyone's mentioned here. Also, don't hesitate to reach out to the Secretary of State's UCC division if you have questions - they're usually pretty helpful with procedural issues.

As someone who's been in your exact shoes, I completely understand that "keeping you up at night" feeling! Here's the simple breakdown that finally clicked for me: UCC1 is for creating a brand new security interest record (which is what you need for your equipment loan), and UCC3 is only for making changes to a UCC1 that already exists. Since this is your first filing on this $180K equipment, you definitely need to start with UCC1. Once that's filed, any future changes - like if you need to add more equipment to the collateral or continue the filing before it expires in 5 years - would use UCC3. The analogy someone used earlier about UCC1 being like opening a bank account and UCC3 being like making transactions really helped me remember the difference. Don't stress too much - you've got this!

I'm new to UCC filings and this thread has been incredibly helpful! Just to make sure I understand correctly - for any brand new collateral securing a loan (like equipment, inventory, etc.), I should always start with UCC1 to establish the initial security interest, right? And then UCC3 only comes into play later if something needs to change about that existing filing? I'm working on a similar situation with some manufacturing equipment and want to make sure I don't make the same mistake of overthinking which form to use. The stress is real when you know how important these filings are for protecting the lender's interests!