UCC Document Community

Update us when you figure out what's going on! I'm curious whether it turns out to be a Westlaw display issue or an actual name discrepancy. This kind of situation makes everyone nervous.

I've seen this exact scenario play out before and it's worth doing a comprehensive verification process. First, pull the actual UCC-1 filing from the other lender (not just the Westlaw summary) to see exactly how they listed the debtor name. Then cross-reference both your filing and theirs against the company's current articles of incorporation and their most recent annual report with the Secretary of State. The key is ensuring your UCC-1 matches the exact legal name as currently registered with the state - not just what the borrower told you or what appears on their loan application. If there's any discrepancy, file a UCC-3 amendment immediately. With $450K on the line, spending a few hours on verification and potentially $50-100 on an amendment fee is absolutely worth the peace of mind and protection of your security interest.

Bottom line: 5 years from filing date, continuation window starts 6 months before expiration. File early, double-check debtor information, and make sure you're still in the right jurisdiction. You've got this!

As someone new to UCC filings, this thread has been incredibly educational! I'm working on my first secured transaction and was completely unaware of the continuation requirements. The 5-year rule with the 6-month filing window makes sense, but I'm curious - are there any common mistakes newcomers make with continuation filings that I should watch out for? Also, does anyone have recommendations for reliable UCC search services to verify current filing status before preparing continuations?

For anyone reading this thread later - the Texas Secretary of State has a fraud alert section on their website specifically about UCC scam services. Worth checking out if you get one of these calls.

As someone who's been handling UCC filings for over a decade, I can tell you these cold-call services are almost always scams. The legitimate UCC service providers work through established relationships with law firms and financial institutions - they don't randomly call businesses. Your instincts are spot on. The Texas SOS portal is actually one of the better state systems, and at $15 per filing versus $150-300 these scammers charge, you're doing the right thing handling it yourself. Just make sure you're tracking your 5-year continuation deadlines properly with multiple calendar reminders, and you'll be fine.

Bottom line - the UCC statement request form is your best friend for equipment purchases. It gives you the official documentation you need to know exactly what liens exist and whether they'll affect your purchase. Don't try to cut corners on this part of due diligence.

Great advice from everyone here! Just to add one more practical tip - when you submit your UCC statement request, also consider requesting certified copies rather than just informational copies. For a transaction this size, having certified documents will be helpful if you need to provide proof to your lender or if any disputes arise later. The cost difference is usually minimal but the legal weight of certified copies can be important. Also, make sure to keep detailed records of exactly what you searched for (debtor names, variations, etc.) so you can show your attorney and any future stakeholders that you did thorough due diligence.

I've run into this exact same confusion with Canadian lenders before! There's definitely no official UCC 1-308 form or section that applies to financing statement filings. What I've learned from experience is that many Canadian financial institutions use their own internal coding systems that don't translate to US UCC requirements at all. For your equipment financing, you'll just need to file a standard UCC-1 in the state where the equipment is located. The most critical thing is ensuring the debtor name on your UCC-1 exactly matches how it appears in their loan documents - I've seen Canadian lenders format corporate entity names differently than what we typically use in the US. I'd suggest asking them for a clear breakdown of what information they actually need on the US filing, and politely ignore any references to their "1-308" code since it's likely just their internal tracking system.

I've encountered this exact situation multiple times with Canadian lenders, and you're absolutely right to be confused - there is no UCC 1-308 form or section in the Uniform Commercial Code. This sounds like their internal reference system that has zero relevance to your actual US filing requirements. For equipment financing with Canadian lenders, you still file the standard UCC-1 in the state where the equipment is physically located, just like any domestic transaction. The main pitfall I've seen is debtor name mismatches - Canadian entities often have slightly different legal name formats or corporate suffixes that don't align with US naming conventions. I'd recommend getting a copy of their security agreement and comparing the exact debtor name formatting to what you plan to put on the UCC-1. Also, ask them point-blank what specific information they need on the US filing and ignore any references to their "1-308" code - it's likely just confusing their internal processes with actual UCC requirements.