Oregon Farm Products Financing Statement Standard Form (EFS-1) is a legal document used by Oregon farmers to secure financing for their farm products. The form is typically used by lenders and financiers to establish a security interest in the products of the borrower. It is a standard form of Oregon's Uniform Commercial Code (UCC) financing statement that is used to register lien rights for the lender in the event of default by the borrower. The EFS-1 is available in two versions: the short form and the long form. The short form is intended for use when the collateral is limited to farm products, while the long form is used for any other collateral. Both forms must be filed with the Oregon Secretary of State's Office. If the form is not filed, the lender does not have the right to collect the collateral in the event of default.
Oregon Farm Products Financing Statement Standard Form (EFS-1) is a legal document used by Oregon farmers to secure financing for their farm products. The form is typically used by lenders and financiers to establish a security interest in the products of the borrower. It is a standard form of Oregon's Uniform Commercial Code (UCC) financing statement that is used to register lien rights for the lender in the event of default by the borrower. The EFS-1 is available in two versions: the short form and the long form. The short form is intended for use when the collateral is limited to farm products, while the long form is used for any other collateral. Both forms must be filed with the Oregon Secretary of State's Office. If the form is not filed, the lender does not have the right to collect the collateral in the event of default.
