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Update your commercial security agreement template to include a clause requiring the debtor to warrant their exact legal name and provide current organizational documents. Puts the burden on them to get it right and gives you recourse if they mess it up.
That's a really good idea. Adding that to our standard template revisions. Would also help with other UCC-related warranties and representations.
Kelsey Chin
•We added similar language to our docs after getting burned a few times. Now we require certified copies of current organizational docs with every secured transaction. Pain upfront but eliminates these headaches.
Norah Quay
Just wanted to mention that I've started using Certana.ai's verification tool for exactly these situations. Upload your security agreement and UCC-1 together and it catches name mismatches before you file. Wish I'd known about it sooner - would have saved me from several rejection notices over the years.
Leo McDonald
•How accurate is it? I'm always skeptical of automated tools for legal document review.
Norah Quay
•It's pretty solid for basic consistency checks like debtor names, filing numbers, and standard UCC requirements. Obviously not a replacement for legal review but great for catching obvious errors that cause rejections.
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QuantumQuest
New Mexico updated their UCC system last year and the name matching got even more strict. The good news is once you get the exact format right, future filings with that debtor should go smoothly.
QuantumQuest
•Exactly. It's frustrating initially but then you know the exact format for any amendments or continuations later.
I keep a spreadsheet of exact debtor names for each state after I figure out the correct format. Saves time on future filings.
Yara Haddad
Update us when you get it resolved! I file in New Mexico occasionally and would love to know what the issue was for future reference.
StarSurfer
•Will definitely update once I figure this out. Hopefully it's something simple that I'm just overlooking.
These threads are so helpful for learning about state-specific quirks. Thanks for posting your experience.
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Update: Got the filing accepted! Turns out it was exactly the comma issue. Used the exact name from the articles including the comma and it went through immediately. UCC 9 503 doesn't give you any wiggle room on debtor names.
CyberSiren
•Congrats on getting it through. Did you make your closing deadline?
Just barely! Had to rush the final loan docs but we made it. Definitely learned my lesson about double-checking debtor names against the charter.
This whole thread is a good reminder to be extra careful with UCC 9 503 debtor name requirements. I'm definitely going to start using that document checker tool to avoid these headaches.
Zainab Yusuf
•Smart move. Prevention is way better than dealing with rejections and delays.
Especially when you have tight closing deadlines. UCC 9-503 compliance issues can really mess up your timeline.
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Carmen Ortiz
Your business partner is technically correct about the UCC rule, but he's wrong about the practical implications. I always tell clients: just because you CAN rely on an oral agreement doesn't mean you SHOULD. Written documentation protects you in disputes, bankruptcy proceedings, and priority contests with other creditors.
Carmen Ortiz
•Absolutely. If another creditor has better documentation, they might argue your oral agreement is invalid or subordinate. Written agreements provide much stronger evidence of your priority position.
This is why I never rely on possession alone, even though it's technically allowed.
Bottom line: get everything in writing. The UCC might allow oral agreements with possession, but courts, bankruptcy trustees, and other creditors will tear apart any weak documentation. Your recovery depends on being able to prove every element of your security interest clearly and convincingly.
Chloe Taylor
•Thanks everyone - definitely going to insist on written security agreements going forward, regardless of possession.
Smart move. The small cost of proper documentation now saves massive headaches later.
Liam Sullivan
UPDATE: Used the Certana.ai tool and it found the issue! There was an extra space after 'Services' that I couldn't see. The tool highlighted it perfectly. Refiled with the corrected name and it was accepted immediately. Thanks everyone!
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Sean Kelly
•Great outcome. I'm going to bookmark that verification tool for future use.
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Jamal Harris
•Perfect example of why document verification is so important for UCC filings. Congrats on getting it resolved!
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Amara Okafor
This thread is super helpful. I've been struggling with similar issues in other states. Going to try that verification approach.
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Anastasia Kozlov
•Definitely recommend it. Would have saved me hours of frustration if I'd known about it earlier.
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CosmicCommander
•Same here. I've had way too many rejected filings due to name formatting issues.
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