UCC-CNS-1 Financing Statement Standard form for security interests in farm products to be filed with the North Dakota filing office.
The Fargo North Dakota UCC Financing Statement Standard is a legal document that establishes a creditor's security interest in the debtor's personal property. This statement is an essential part of the Uniform Commercial Code (UCC) system, which governs commercial transactions in the state of North Dakota. Fargo, being the largest city in North Dakota, has its own specific standards for UCC financing statements. The Fargo North Dakota UCC Financing Statement Standard includes detailed information about the creditor, debtor, and the collateral involved. The creditor is the party who is providing the loan or extending credit, while the debtor is the party receiving the loan or credit. Collateral refers to the personal property that is being pledged as security for the loan or credit. Some key elements included in the Fargo North Dakota UCC Financing Statement Standard are: 1. Debtor Information: The statement requires the debtor's legal name, including any previous names, and their mailing address. It is crucial to provide accurate information to ensure the filing is valid and enforceable. 2. Creditor Information: The creditor's name and mailing address must be included in the statement. This information helps identify the party with the security interest in the collateral. 3. Collateral Description: A detailed description of the collateral must be provided in the financing statement. This description should be sufficiently specific to identify the property, such as make, model, serial number, or other unique identifiers. 4. Filing Fee: A filing fee is required when submitting the Fargo North Dakota UCC Financing Statement Standard. The amount may vary, so it is essential to consult the official sources or relevant authorities to determine the correct fee. There are no specific different types of Fargo North Dakota UCC Financing Statement Standards, as the process and requirements are standardized across the state. However, it is important to note that there could be variations in local filing procedures and fees. Therefore, it is advisable to consult the appropriate governmental offices or legal professionals to ensure compliance with the Fargo North Dakota UCC Financing Statement Standard. In conclusion, the Fargo North Dakota UCC Financing Statement Standard is a crucial legal document used to establish a creditor's security interest in personal property. It requires accurate information about the debtor, creditor, and collateral. By adhering to the filing requirements, parties involved can protect their rights and interests in commercial transactions conducted within Fargo, North Dakota.
