Raleigh North Carolina UCC3 Financing Statement Amendment Addendum

• Category: North Carolina Contracts - Uniform Commercial Code
• State: North Carolina
• City: Raleigh
• Control #: NC-UCC3-A
• Format: PDF

Description

UCC3 - Financing Statement Amendment Addendum - North Carolina - For use after July 1, 2001. This form is to be used as an addendum to the financing statement amendment. This form is to be filed in the real estate records. Raleigh, North Carolina is home to several types of UCC3 Financing Statement Amendment Addendums that play a crucial role in documenting and modifying certain financial transactions. These addendums comply with the Uniform Commercial Code (UCC) regulations and aim to ensure accuracy and transparency in commercial transactions. Let's explore these types and delve into their functionalities: 1. UCC3 Financing Statement Amendment Addendum for Security Interests: This type of addendum allows parties involved in a secured transaction to make corrections, additions, or updates to the initial UCC3 Financing Statement. It is often used when there are changes in collateral, debtor information, or creditor details. The addendum incorporates these modifications and becomes an integral part of the financing statement. 2. UCC3 Financing Statement Amendment Addendum for Assignment of Interests: In situations where a party desires to assign or transfer its interest in a previously filed UCC3 Financing Statement, this addendum comes into play. It outlines the details of the assignment, including the assignor's and assignee's information, date of assignment, and any relevant terms and conditions. By filing this addendum, the assignor formally relinquishes its interest in the financing statement, making way for the assignee's rights and obligations. 3. UCC3 Financing Statement Amendment Addendum for Termination: When a security interest or financing statement is no longer valid, either due to debt satisfaction or other reasons, the termination addendum is used. This addendum documents the termination of the financing statement by providing pertinent information such as the debtor's name, secured party's details, and the original filing date. By filing this addendum, parties ensure the public record reflects that the security interest or financing statement is no longer in effect. 4. UCC3 Financing Statement Continuation: Although not strictly an amendment addendum, the UCC3 Financing Statement Continuation supports the previously-filed financing statement's validity beyond its initial expiration date. This continuation addendum allows secured parties to extend the effectiveness of the financing statement by providing the essential details, such as the original filing number, debtor's information, and secured party's details. Continuations are typically filed within six months before the original financing statement expires and help avoid potential gaps in priority. In conclusion, Raleigh, North Carolina offers various UCC3 Financing Statement Amendment Addendums to address different scenarios that may arise in commercial transactions. These addendums enable parties to correct errors, assign interests, terminate previous filings, or extend the validity of financing statements. Proper utilization of these addendums ensures accuracy, accountability, and compliance with UCC regulations in Raleigh's vibrant business landscape.

Raleigh, North Carolina is home to several types of UCC3 Financing Statement Amendment Addendums that play a crucial role in documenting and modifying certain financial transactions. These addendums comply with the Uniform Commercial Code (UCC) regulations and aim to ensure accuracy and transparency in commercial transactions. Let's explore these types and delve into their functionalities: 1. UCC3 Financing Statement Amendment Addendum for Security Interests: This type of addendum allows parties involved in a secured transaction to make corrections, additions, or updates to the initial UCC3 Financing Statement. It is often used when there are changes in collateral, debtor information, or creditor details. The addendum incorporates these modifications and becomes an integral part of the financing statement. 2. UCC3 Financing Statement Amendment Addendum for Assignment of Interests: In situations where a party desires to assign or transfer its interest in a previously filed UCC3 Financing Statement, this addendum comes into play. It outlines the details of the assignment, including the assignor's and assignee's information, date of assignment, and any relevant terms and conditions. By filing this addendum, the assignor formally relinquishes its interest in the financing statement, making way for the assignee's rights and obligations. 3. UCC3 Financing Statement Amendment Addendum for Termination: When a security interest or financing statement is no longer valid, either due to debt satisfaction or other reasons, the termination addendum is used. This addendum documents the termination of the financing statement by providing pertinent information such as the debtor's name, secured party's details, and the original filing date. By filing this addendum, parties ensure the public record reflects that the security interest or financing statement is no longer in effect. 4. UCC3 Financing Statement Continuation: Although not strictly an amendment addendum, the UCC3 Financing Statement Continuation supports the previously-filed financing statement's validity beyond its initial expiration date. This continuation addendum allows secured parties to extend the effectiveness of the financing statement by providing the essential details, such as the original filing number, debtor's information, and secured party's details. Continuations are typically filed within six months before the original financing statement expires and help avoid potential gaps in priority. In conclusion, Raleigh, North Carolina offers various UCC3 Financing Statement Amendment Addendums to address different scenarios that may arise in commercial transactions. These addendums enable parties to correct errors, assign interests, terminate previous filings, or extend the validity of financing statements. Proper utilization of these addendums ensures accuracy, accountability, and compliance with UCC regulations in Raleigh's vibrant business landscape.