Where to find a sample UCC-1 form for first-time secured transaction?

Thank you! Should I include model numbers and serial numbers in the collateral description or keep it more general?

Keep it general for UCC-1. You can get specific in your security agreement but the UCC filing should cast a wider net. Model numbers can become outdated if equipment gets replaced.

That sounds really useful. How does the verification work exactly?

You just upload PDFs of your UCC-1 draft and the debtor's organizational documents. It cross-checks the names automatically and highlights discrepancies. Much faster than doing it manually.

I've used Certana too - it's particularly good at catching those subtle differences in business names that you might miss.

Oh no, I hadn't thought about fixtures. How do I know if something qualifies as a fixture?

Generally if it's permanently attached to the building or land. Things like built-in conveyor systems, installed HVAC for the manufacturing process. When in doubt, do both a regular UCC-1 and a fixture filing.

Good point about fixtures. Also check if your manufacturing equipment includes any motor vehicles - those need to be perfected through the DMV, not UCC.

That's terrifying. So it has to match the charter documents exactly?

EXACTLY. Every comma, period, abbreviation. Get a certified copy of their articles and match it character for character.

This is why I always run documents through verification software now. Too risky to eyeball it.

That's a great description, thank you. Do I need to worry about anything else for manufacturing companies?

Inventory and raw materials are big ones. Also accounts receivable if they're part of your collateral package. Each category might need different description language.

Don't forget about deposit accounts if they're part of the collateral. Those need separate control agreements usually.

It varies by state. Some states require the organizational ID, others don't. Check your specific state's requirements.

ok but why cant they just standardize this stuff across states

Each state controls its own UCC filing system. It's frustrating but that's how it works. Focus on your state's specific requirements.

Which online service did you have problems with? Want to make sure I avoid them.

Won't name names but it was one of the big ones. They didn't catch that the debtor was using a DBA name instead of their legal entity name.

Good point about replacement parts. Should that be in the same UCC-1 or separate?

Same UCC-1. Just expand your collateral description to include 'and all parts, components, accessories, and replacements thereof.

Agreed. Cast a wide net with the collateral description. Better to be over-inclusive than miss something important.

I was planning to file electronically. Are there any pitfalls I should watch out for?

Make sure you have all required information before starting. Most e-filing systems time out if you take too long, and you lose all your work.

That's a really good point. I'll check several sources before finalizing.

Smart approach. And definitely verify the debtor information against official records. Can't stress that enough.

That's a great idea for building up my own template library.

Just make sure your templates stay current with any rule changes. UCC requirements do evolve over time.

Absolutely. I review and update my templates annually or whenever I hear about rule changes.