Bend Oregon UCC1 Financing Statement Addendum

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Bend
• Control #: OR-UCC1-A
• Format: PDF

Description

UCC1 - Financing Statement Addendum - Oregon - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement. The Bend Oregon UCC1 Financing Statement Addendum is an essential legal document that complements the UCC1 financing statement, ensuring comprehensive and accurate information regarding the secured party's interest in personal property. It serves as an attachment to the UCC1 form, providing additional details and provisions. This addendum is commonly used in Bend, Oregon, and plays a crucial role in securing financial transactions involving personal property, such as equipment, inventory, and various assets. It ensures that all relevant parties, including lenders, borrowers, and potential buyers, have a clear understanding of the specific terms and conditions associated with the financing arrangement. Some important keywords associated with the Bend Oregon UCC1 Financing Statement Addendum include: 1. UCC1 Financing Statement: The primary document filed by a creditor or secured party to stake their claim or security interest in personal property as collateral for a loan or other financial obligations. 2. Security Interest: A legal right granted by a debtor to a creditor that provides assurance or collateral in case of default or non-payment. 3. Personal Property: Assets that are movable and not classified as real estate. This category typically includes items like machinery, vehicles, inventory, and equipment. 4. Secured Party: The creditor or lender who holds a security interest in the personal property of a debtor as protection against potential default or non-payment. 5. Addendum: An attachment or supplemental document that provides additional information or terms to an existing legal instrument. Types of Bend Oregon UCC1 Financing Statement Addendum: 1. Amended Addendum: When changes or updates need to be made to the original UCC1 Financing Statement Addendum, an amended addendum is filed, ensuring that all the latest information is accurately reflected. 2. Termination Addendum: If the secured party no longer has a security interest in the debtor's personal property, a termination addendum is filed to officially release the security interest and remove it from public record. 3. Collateral Description Addendum: In cases where a more detailed or specific description of the collateral is necessary, this addendum provides additional information to accurately identify the assets securing the loan. 4. Debtor Information Addendum: In situations where the debtor's information needs to be further specified or corrected, this addendum is filed to ensure that the debtor's details are accurately recorded on the UCC1 financing statement. Understanding the intricate details of the Bend Oregon UCC1 Financing Statement Addendum is crucial when engaging in financial transactions involving personal property. Whether it's an amended addendum, termination addendum, collateral description addendum, or debtor information addendum, each serves a unique purpose in enhancing the accuracy and reliability of the UCC1 financing statement.

The Bend Oregon UCC1 Financing Statement Addendum is an essential legal document that complements the UCC1 financing statement, ensuring comprehensive and accurate information regarding the secured party's interest in personal property. It serves as an attachment to the UCC1 form, providing additional details and provisions. This addendum is commonly used in Bend, Oregon, and plays a crucial role in securing financial transactions involving personal property, such as equipment, inventory, and various assets. It ensures that all relevant parties, including lenders, borrowers, and potential buyers, have a clear understanding of the specific terms and conditions associated with the financing arrangement. Some important keywords associated with the Bend Oregon UCC1 Financing Statement Addendum include: 1. UCC1 Financing Statement: The primary document filed by a creditor or secured party to stake their claim or security interest in personal property as collateral for a loan or other financial obligations. 2. Security Interest: A legal right granted by a debtor to a creditor that provides assurance or collateral in case of default or non-payment. 3. Personal Property: Assets that are movable and not classified as real estate. This category typically includes items like machinery, vehicles, inventory, and equipment. 4. Secured Party: The creditor or lender who holds a security interest in the personal property of a debtor as protection against potential default or non-payment. 5. Addendum: An attachment or supplemental document that provides additional information or terms to an existing legal instrument. Types of Bend Oregon UCC1 Financing Statement Addendum: 1. Amended Addendum: When changes or updates need to be made to the original UCC1 Financing Statement Addendum, an amended addendum is filed, ensuring that all the latest information is accurately reflected. 2. Termination Addendum: If the secured party no longer has a security interest in the debtor's personal property, a termination addendum is filed to officially release the security interest and remove it from public record. 3. Collateral Description Addendum: In cases where a more detailed or specific description of the collateral is necessary, this addendum provides additional information to accurately identify the assets securing the loan. 4. Debtor Information Addendum: In situations where the debtor's information needs to be further specified or corrected, this addendum is filed to ensure that the debtor's details are accurately recorded on the UCC1 financing statement. Understanding the intricate details of the Bend Oregon UCC1 Financing Statement Addendum is crucial when engaging in financial transactions involving personal property. Whether it's an amended addendum, termination addendum, collateral description addendum, or debtor information addendum, each serves a unique purpose in enhancing the accuracy and reliability of the UCC1 financing statement.