Hillsboro Oregon UCC Financing Statement

• Category: Oregon Court Samples - Loans and Lending - Assignments - Leases - Sample Case 2
• State: Oregon
• City: Hillsboro
• Control #: OR-HJ-655-01
• Format: PDF

Description

A01 UCC Financing Statement The Hillsboro Oregon UCC Financing Statement is a legal document commonly used in commercial transactions to establish and protect the interests of lenders and creditors. It is an essential tool for businesses and individuals seeking to secure their financial interests in various types of collateral. This statement is governed by the Uniform Commercial Code (UCC) and must be filed with the Secretary of State's office in Hillsboro, Oregon. The Hillsboro Oregon UCC Financing Statement provides a detailed account of the debtor and creditor involved in a transaction, as well as the collateral being used to secure the debt. It helps to establish priority between competing creditors and provides a public record of the security interest in the collateral. This filing ensures that lenders have a legal claim on the assets used as collateral in the event that the debtor defaults on their obligations. There are different types of Hillsboro Oregon UCC Financing Statements, each serving a unique purpose: 1. UCC-1 Financing Statement: This is the most common type of filing and is used when a creditor wants to secure their interest in the debtor's personal property collateral. It covers various assets such as inventory, equipment, accounts receivable, and general intangibles. 2. UCC-3 Financing Statement Amendment: This form is used to amend or update an existing financing statement. It allows changes to be made to the original filing, such as adding additional collateral, changing debtor information, or extending the filing's duration. 3. UCC-5 Information Statement: Unlike the UCC-1 and UCC-3, this statement is not used to establish a security interest. Instead, it is a way for a debtor or interested party to request information about a specific financing statement already on file. To complete a Hillsboro Oregon UCC Financing Statement, specific information must be included, such as the name and address of the debtor, the name and address of the secured party, a description of the collateral, and any other necessary details. The accuracy of the information provided is crucial to protect the rights of all parties involved. In summary, the Hillsboro Oregon UCC Financing Statement is a legal document required for securing interests in collateral for commercial transactions. With different types of statements available, it is essential to understand the specific requirements and applicable forms to ensure compliance and protection of legal rights.

The Hillsboro Oregon UCC Financing Statement is a legal document commonly used in commercial transactions to establish and protect the interests of lenders and creditors. It is an essential tool for businesses and individuals seeking to secure their financial interests in various types of collateral. This statement is governed by the Uniform Commercial Code (UCC) and must be filed with the Secretary of State's office in Hillsboro, Oregon. The Hillsboro Oregon UCC Financing Statement provides a detailed account of the debtor and creditor involved in a transaction, as well as the collateral being used to secure the debt. It helps to establish priority between competing creditors and provides a public record of the security interest in the collateral. This filing ensures that lenders have a legal claim on the assets used as collateral in the event that the debtor defaults on their obligations. There are different types of Hillsboro Oregon UCC Financing Statements, each serving a unique purpose: 1. UCC-1 Financing Statement: This is the most common type of filing and is used when a creditor wants to secure their interest in the debtor's personal property collateral. It covers various assets such as inventory, equipment, accounts receivable, and general intangibles. 2. UCC-3 Financing Statement Amendment: This form is used to amend or update an existing financing statement. It allows changes to be made to the original filing, such as adding additional collateral, changing debtor information, or extending the filing's duration. 3. UCC-5 Information Statement: Unlike the UCC-1 and UCC-3, this statement is not used to establish a security interest. Instead, it is a way for a debtor or interested party to request information about a specific financing statement already on file. To complete a Hillsboro Oregon UCC Financing Statement, specific information must be included, such as the name and address of the debtor, the name and address of the secured party, a description of the collateral, and any other necessary details. The accuracy of the information provided is crucial to protect the rights of all parties involved. In summary, the Hillsboro Oregon UCC Financing Statement is a legal document required for securing interests in collateral for commercial transactions. With different types of statements available, it is essential to understand the specific requirements and applicable forms to ensure compliance and protection of legal rights.