Farm Products Financing Statement form for use under Food Security Act of 1985 for security interest filings with Oregon filing office.
The Portland Oregon UCC EFS-1 Farm Products Financing Statement is a legal document used to establish a creditor's security interest in farm products that are located in Portland, Oregon. This statement is filed with the Oregon Secretary of State's office to provide notice to other potential creditors that the named creditor holds a lien on certain farm products. The UCC stands for Uniform Commercial Code, which is a standardized set of laws that govern commercial transactions in the United States. The EFS-1 designation refers to the specific form or template used for filing the financing statement in Oregon. This financing statement is applicable when a creditor lends money to a farmer or agricultural business, and the loan is secured by the farm products owned by the debtor. By filing the UCC EFS-1 form, the creditor ensures their priority interest in these farm products, in case of default or bankruptcy. It is important to note that there are different types of UCC EFS-1 Farm Products Financing Statements available in Portland, Oregon, depending on the specific nature of the transaction. 1. UCC EFS-1 — Agricultural Production: This type of financing statement is used when the loan provided by the creditor is specifically related to agricultural production, such as crop or livestock farming. It covers farm products like harvested crops, livestock, inventory, and supplies directly used for agricultural purposes. 2. UCC EFS-1 — Processing/Manufacturing: This financing statement is utilized when the loan is tied to the processing or manufacturing of farm products. It covers farm products that have undergone significant transformation or processing, such as processed meats, dairy products, or canned fruits and vegetables. 3. UCC EFS-1 — Wholesale/Retail: This type of financing statement is relevant when the loan is related to the wholesale or retail distribution of farm products. It applies to products that are ready for sale to consumers, including packaged produce, meat products, dairy items, or baked goods. By using the appropriate UCC EFS-1 form for the specific type of transaction, creditors ensure the proper recording and filing of their security interest in the identified farm products. This helps protect their rights and allows for an orderly resolution in the event of default or insolvency.The Portland Oregon UCC EFS-1 Farm Products Financing Statement is a legal document used to establish a creditor's security interest in farm products that are located in Portland, Oregon. This statement is filed with the Oregon Secretary of State's office to provide notice to other potential creditors that the named creditor holds a lien on certain farm products. The UCC stands for Uniform Commercial Code, which is a standardized set of laws that govern commercial transactions in the United States. The EFS-1 designation refers to the specific form or template used for filing the financing statement in Oregon. This financing statement is applicable when a creditor lends money to a farmer or agricultural business, and the loan is secured by the farm products owned by the debtor. By filing the UCC EFS-1 form, the creditor ensures their priority interest in these farm products, in case of default or bankruptcy. It is important to note that there are different types of UCC EFS-1 Farm Products Financing Statements available in Portland, Oregon, depending on the specific nature of the transaction. 1. UCC EFS-1 — Agricultural Production: This type of financing statement is used when the loan provided by the creditor is specifically related to agricultural production, such as crop or livestock farming. It covers farm products like harvested crops, livestock, inventory, and supplies directly used for agricultural purposes. 2. UCC EFS-1 — Processing/Manufacturing: This financing statement is utilized when the loan is tied to the processing or manufacturing of farm products. It covers farm products that have undergone significant transformation or processing, such as processed meats, dairy products, or canned fruits and vegetables. 3. UCC EFS-1 — Wholesale/Retail: This type of financing statement is relevant when the loan is related to the wholesale or retail distribution of farm products. It applies to products that are ready for sale to consumers, including packaged produce, meat products, dairy items, or baked goods. By using the appropriate UCC EFS-1 form for the specific type of transaction, creditors ensure the proper recording and filing of their security interest in the identified farm products. This helps protect their rights and allows for an orderly resolution in the event of default or insolvency.
