UCC Document Community

Our equipment dealership just discovered we may have blown our UCC 9320 purchase money security interest priority window on a $485,000 industrial press sale. The buyer financed through their bank who filed a blanket UCC-1 covering all equipment 8 months ago. We delivered the press last Tuesday but our finance company didn't file the PMSI until yesterday - that's 6 days after delivery. I'm reading conflicting interpretations about whether UCC 9320 requires filing within the 20-day grace period or if there's any wiggle room. The buyer's existing lender is claiming first priority position on our equipment since their blanket lien was filed months before our PMSI. This could cost us our entire security position on nearly half a million in equipment. Has anyone dealt with UCC 9320 timing issues where the 20-day window was missed by just a few days? Are there any exceptions or workarounds when the delay was due to finance company processing issues rather than dealer negligence?

I'm drowning in a UCC mess and could really use some guidance from anyone who's been through this. We had what seemed like a straightforward equipment financing deal last month - $450K construction equipment for our concrete business. Everything looked good until we tried to perfect our security interest. Here's where it gets complicated: The borrower's legal name on their articles of incorporation is "Precision Concrete Solutions LLC" but they've been doing business as "PCS Construction" for years. Their bank accounts, insurance, everything is under PCS Construction. When we filed our UCC-1, we used "PCS Construction" as the debtor name since that's what was on all their financial documents. Guess what? The filing got rejected. Apparently under the UCC, you have to use the exact legal name from the organizational documents, not the DBA. Now I'm scrambling to fix this before our loan agreement deadlines kick in. I've got three questions: 1) Do I need to file a UCC-3 amendment to correct the debtor name, or do I start over with a new UCC-1? 2) How do I handle the gap in perfection timing - does this affect our priority position? 3) Has anyone dealt with similar debtor name mismatches under the UCC rules? This whole situation has me questioning everything I thought I knew about secured transactions. Any advice would be huge right now.

I'm working on a complex equipment financing deal and need to get the DE UCC forms right. The borrower is an LLC with multiple DBA names they use for different divisions, and I'm getting confused about which exact legal name to use as the debtor name on the UCC-1. Delaware's filing system seems pretty strict about exact name matches. The collateral involves manufacturing equipment across three facilities, so I also need to make sure I'm describing everything correctly in the collateral schedule. Has anyone dealt with Delaware UCC filings recently? I've heard their online portal can be picky about rejecting forms for minor name discrepancies. This is a $2.8M deal so I really can't afford to mess up the perfection. Any guidance on Delaware's specific requirements would be huge.

I'm having a weird issue with the Kansas Secretary of State UCC search system. Filed a UCC-1 about 6 months ago for equipment financing on a customer's manufacturing line, and when I run searches using their exact business name, sometimes the filing shows up and sometimes it doesn't. The debtor name on our UCC-1 is 'Midwest Industrial Solutions LLC' but when I search that exact phrase, I get inconsistent results. If I search just 'Midwest Industrial' it usually appears, but our loan agreement requires the full legal name match. Has anyone else run into search functionality problems with Kansas SOS UCC database? I'm worried our lien might not be properly searchable by other creditors, which could create priority issues down the road. The filing number is valid and shows as active when I pull it directly, but the search inconsistency is making me nervous about our security interest being discoverable.

We're dealing with a grain elevator cooperative that needs additional collateral coverage beyond the standard UCC-1 filing. The lender is requiring a coop addendum to secure inventory fluctuations and seasonal grain storage, but I'm getting conflicting information about whether this needs to be filed as a separate UCC-1 coop addendum or if it can be incorporated into the main financing statement. The cooperative operates across three counties and handles both member grain storage and commercial grain trading. Our original UCC-1 covered equipment and general inventory, but now we need to capture the seasonal grain inventory that can swing from $2M to $8M depending on harvest timing. Has anyone dealt with UCC-1 coop addendum filings for agricultural cooperatives? The SOS office said they need more specific collateral descriptions but weren't clear on the addendum format requirements.