An Idaho Farm Products Financing Statement (also known as a UCC-1 Financing Statement) is a legal document used to provide public notice of an interest in farm products in Idaho. This document is filed with the Idaho Department of Finance and provides information about the debtor, the secured party, and the collateral. It is typically used to secure a loan or other type of financing for a farm-related business. There are two types of Idaho Farm Products Financing Statements: a continuation statement and an amendment statement. The continuation statement is used to extend the effective date of a financing statement previously filed, while the amendment statement is used to make changes to an existing financing statement.
Idaho Farm Products Financing Statement
State:
Idaho
Control #:
ID-SKU-265
Format:
PDF
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Farm Products Financing Statement
How to fill out Idaho Farm Products Financing Statement?
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3 termination statement (a ?Termination?) is a required filing that terminates a security interest that has been perfected by a UCC1 filing. A Termination for personal property is accomplished by completing and filing form UCC3 with the Secretary of State's office in the appropriate state.
How to complete a UCC1 (Step by Step) Filer Information. Name and phone number of contact at filer. Email contact at filer.Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.
A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
The financing statement is generally filed with the office of the state secretary of state, in the state where the debtor is located - for an individual, the state where the debtor resides, for most kinds of business organizations the state of incorporation or organization.
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See instructions, fee schedule and tables of codes on the instruction page. Completing these forms in their entirety will both perfect your security interest and protect the filing from buyers of farm products.Forms for filing an Effective Financing Statement ; Regular – Farm Product List –. To add non-farm product collateral, click "Add a description. Buyers use the information to determine if a payment for a farm product should be made to the seller and the secured party jointly. Forms for filing an Effective Financing Statement ; Regular – Farm Product List –. 9 ―EFS‖ means an effective financing statement. Filing of a security agreement as a financing statement is per- missible under the Code. (b) Certificate of Satisfaction of Agricultural Produce Lien. Signature of Debtor and Secured Party required.