This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
The Wake North Carolina UCC Financing Statement Addendum is a vital document used in the state of North Carolina that acts as an extension to a UCC financing statement. UCC stands for Uniform Commercial Code, which is a set of standardized laws and regulations that govern commercial transactions in the United States. This addendum is filed to provide additional information that could not be included in the initial UCC Financing Statement. It ensures the security interest of a lender or creditor in collateral provided by a debtor. The addendum is essential for lenders to protect their rights and interests in any given transaction. Key Features of the Wake North Carolina UCC Financing Statement Addendum: 1. Identification of Lender and Debtor: The addendum requires the complete and accurate identification of both the lender (secured party) and debtor. Their legal names, addresses, and important contact information must be mentioned. 2. Collateral Description: The addendum allows a detailed description of the collateral to be provided. It includes information about the type, nature, and location of the collateral. Special attention is given to accurately identifying the assets against which the lender has a security interest. 3. UCC-1 Reference: The addendum refers to the related UCC-1 Financing Statement by providing the filing date, file number, and jurisdiction. This link ensures that the addendum is associated with the original financing statement. Types of Wake North Carolina UCC Financing Statement Addendum: 1. General Addendum: This type of addendum is commonly used to add any additional information that may not have been recorded in the original UCC Financing Statement. It acts as a catch-all for including any necessary details that were missed or need to be updated. 2. Collateral Specific Addendum: Sometimes, the initial financing statement might not adequately describe all the collateral involved in a transaction. In such cases, a collateral-specific addendum is used to provide a detailed description of a particular asset or group of assets. 3. Amendment Addendum: This type of addendum is filed when there are changes or modifications needed to be made to an existing UCC Financing Statement. It can include updates to debtor information, collateral description, or any other relevant details. In summary, the Wake North Carolina UCC Financing Statement Addendum serves as an essential extension to the UCC Financing Statement, providing additional information about the lender, debtor, collateral description, and UCC-1 reference. Different types of addenda, including general addendum, collateral-specific addendum, and amendment addendum, are used to cater to specific situations or modifications in transactions.The Wake North Carolina UCC Financing Statement Addendum is a vital document used in the state of North Carolina that acts as an extension to a UCC financing statement. UCC stands for Uniform Commercial Code, which is a set of standardized laws and regulations that govern commercial transactions in the United States. This addendum is filed to provide additional information that could not be included in the initial UCC Financing Statement. It ensures the security interest of a lender or creditor in collateral provided by a debtor. The addendum is essential for lenders to protect their rights and interests in any given transaction. Key Features of the Wake North Carolina UCC Financing Statement Addendum: 1. Identification of Lender and Debtor: The addendum requires the complete and accurate identification of both the lender (secured party) and debtor. Their legal names, addresses, and important contact information must be mentioned. 2. Collateral Description: The addendum allows a detailed description of the collateral to be provided. It includes information about the type, nature, and location of the collateral. Special attention is given to accurately identifying the assets against which the lender has a security interest. 3. UCC-1 Reference: The addendum refers to the related UCC-1 Financing Statement by providing the filing date, file number, and jurisdiction. This link ensures that the addendum is associated with the original financing statement. Types of Wake North Carolina UCC Financing Statement Addendum: 1. General Addendum: This type of addendum is commonly used to add any additional information that may not have been recorded in the original UCC Financing Statement. It acts as a catch-all for including any necessary details that were missed or need to be updated. 2. Collateral Specific Addendum: Sometimes, the initial financing statement might not adequately describe all the collateral involved in a transaction. In such cases, a collateral-specific addendum is used to provide a detailed description of a particular asset or group of assets. 3. Amendment Addendum: This type of addendum is filed when there are changes or modifications needed to be made to an existing UCC Financing Statement. It can include updates to debtor information, collateral description, or any other relevant details. In summary, the Wake North Carolina UCC Financing Statement Addendum serves as an essential extension to the UCC Financing Statement, providing additional information about the lender, debtor, collateral description, and UCC-1 reference. Different types of addenda, including general addendum, collateral-specific addendum, and amendment addendum, are used to cater to specific situations or modifications in transactions.
