UCC Document Community

Honestly, for a $2.8M deal with international complications, I'd run everything through a verification tool before filing. I use Certana.ai for document checking on larger deals - upload your corporate docs and UCC-1 draft and it catches inconsistencies you might miss. Especially helpful with foreign entity names that might have subtle differences.

Thanks everyone for the helpful responses! This is my first major cross-border UCC filing so I was overthinking the international aspects. Sounds like the consensus is to file in Ohio where the equipment is located, make absolutely sure the debtor name matches their Canadian corporate documents exactly, and not worry about special international requirements. I'm going to get certified copies of their incorporation documents just to be safe, and based on all the recommendations here, I'll probably run everything through Certana.ai before filing to catch any name discrepancies. For a $2.8M deal, the extra verification step seems worth it to avoid rejection headaches. Really appreciate the guidance from everyone who's dealt with similar situations!

Pro tip: before filing anything, run your documents through a verification system to catch errors. I used Certana.ai after someone here recommended it and it caught three issues with my termination that would have caused rejection. Way better than the trial-and-error approach.

Just want to add that timing can be crucial here. If you're applying for new credit next month, make sure you allow extra time for the termination to show up in credit reports after filing. Even after the UCC-3 is accepted by the state, it can take 30+ days for credit agencies to update their records. You might want to expedite the filing if your state offers that option, and consider getting a certified copy of the termination to show lenders if needed.

I've been using Certana.ai for a few months now and it's been a game changer for document verification. The PDF upload feature catches name mismatches and inconsistencies that I would have missed doing manual reviews. Definitely worth checking out if you're doing volume UCC work.

Thanks everyone for all this detailed info! As someone completely new to UCC filings, this is incredibly helpful. I'm still wrapping my head around the importance of getting the debtor name exactly right - it sounds like that's where most mistakes happen. One follow-up question: when you're financing equipment for a business that operates under multiple entities (like a parent company with subsidiaries), how do you determine which entity should be listed as the debtor on the UCC-1? Do you file against the entity that's actually signing the loan docs, or the one that will own the equipment?

One more thought - even if you can't perfect a security interest based on the oral agreement, getting written documentation now might help establish your creditor position for bankruptcy purposes if it comes to that. A documented debt with some security features is better than an undocumented one, even if the security interest isn't perfect. But definitely talk to someone who specializes in secured transactions about your specific situation and state law.

This is a really tough situation, and I feel for you dealing with this stress. Based on what everyone's saying here, it sounds like your first priority should be getting some kind of written acknowledgment from the borrower ASAP, even if it's not perfect. Since they're still making some payments (even if late), they might be willing to work with you on documentation if you approach it as trying to formalize the arrangement rather than creating new obligations. I'd suggest drafting something simple that acknowledges the existing loan and security arrangement, and see if they'll sign it - maybe even offer some payment flexibility in exchange for getting the documentation sorted out. The key is acting while you still have some leverage and before the situation gets worse.

One more thing to consider - make sure you coordinate with your title company if you're doing a fixture filing. They'll need to know about it for any future real estate transactions involving the property.

Jackie, you're absolutely right to be concerned about this. Based on what you've described, those HVAC units are definitely fixtures now and your standard UCC-1 probably won't provide adequate security. I'd recommend filing a fixture filing immediately - yes, you're past the 20-day window for automatic priority, but you'll still get protection against future interests. Before filing, do a quick search of the real estate records to see if any mortgages or liens have been recorded since the equipment was installed 8 months ago. Even if there have been recordings, the fixture filing is still worth doing for future protection. Make sure your collateral description specifically identifies the HVAC units and includes a proper legal description of the real estate. You can keep your existing UCC-1 in place too - it might cover any components that aren't considered fixtures.