Hillsboro Oregon UCC3 Financing Statement Amendment Addendum

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Hillsboro
• Control #: OR-UCC3-A
• Format: PDF

Description

UCC3 - Financing Statement Amendment Addendum - Oregon - 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. Hillsboro, Oregon is a vibrant city known for its economic growth and thriving business community. When it comes to financing, particularly UCC3 financing statement amendment addendum, understanding the processes and regulations is crucial. This article aims to provide a detailed description of the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum, including its purpose, types, and relevant keywords. The UCC3 Financing Statement Amendment Addendum plays a significant role in modifying, correcting, or expanding the information provided in a financing statement, also known as a UCC1 filing. This addendum is governed by the Uniform Commercial Code (UCC), a set of laws that standardize commercial transactions across the United States. In Hillsboro, Oregon, the UCC3 Financing Statement Amendment Addendum is utilized to ensure accurate and up-to-date information about secured transactions. This addendum enables parties involved in a UCC1 filing to make necessary amendments and disclose additional details associated with the lien or security interest. Keywords: Hillsboro Oregon, UCC3 Financing Statement Amendment Addendum, financing statement, UCC1 filing, Uniform Commercial Code, secured transactions, amendments, corrections, disclosures, security interest. There are various types of UCC3 Financing Statement Amendment Addendums, each serving a specific purpose. Some common types include: 1. Correction Addendum: This addendum is used to rectify any errors or inaccuracies present in the original UCC1 filing. It allows parties to correct information such as debtor names, addresses, or collateral descriptions. 2. Amendment Addendum: This type of addendum is employed when there is a need to modify the existing terms or conditions of a UCC1 filing. Parties can use this amendment to adjust the collateral description, extend the duration of the security interest, or change any other relevant provisions. 3. Continuation Addendum: When the original filing's effectiveness is about to expire, the continuation addendum is utilized to extend the duration of the UCC1 financing statement. It ensures the security interest remains valid and avoids any potential lapse. 4. Termination Addendum: In cases where a debtor has fulfilled their financial obligations or the secured party no longer has an interest in the collateral, the termination addendum is filed to officially release the UCC1 financing statement. It terminates the security interest and removes it from the public record. Keywords: Correction Addendum, Amendment Addendum, Continuation Addendum, Termination Addendum, UCC1 financing statement, rectify errors, modify terms, extend duration, release security interest, public record. Understanding the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum and its types is essential for businesses and individuals engaged in secured transactions. Adhering to UCC requirements can help ensure accuracy, clarity, and legal compliance in financial arrangements. In conclusion, the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum is a vital component of secured transactions. By utilizing various types of addendums, parties can correct errors, modify terms, extend durations, or terminate security interests as per their specific needs. Compliance with the Uniform Commercial Code is crucial for maintaining accurate and up-to-date financial records in Hillsboro, Oregon. Keywords: Hillsboro Oregon, UCC3 Financing Statement Amendment Addendum, types, secured transactions, accuracy, compliance, financial records.

Hillsboro, Oregon is a vibrant city known for its economic growth and thriving business community. When it comes to financing, particularly UCC3 financing statement amendment addendum, understanding the processes and regulations is crucial. This article aims to provide a detailed description of the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum, including its purpose, types, and relevant keywords. The UCC3 Financing Statement Amendment Addendum plays a significant role in modifying, correcting, or expanding the information provided in a financing statement, also known as a UCC1 filing. This addendum is governed by the Uniform Commercial Code (UCC), a set of laws that standardize commercial transactions across the United States. In Hillsboro, Oregon, the UCC3 Financing Statement Amendment Addendum is utilized to ensure accurate and up-to-date information about secured transactions. This addendum enables parties involved in a UCC1 filing to make necessary amendments and disclose additional details associated with the lien or security interest. Keywords: Hillsboro Oregon, UCC3 Financing Statement Amendment Addendum, financing statement, UCC1 filing, Uniform Commercial Code, secured transactions, amendments, corrections, disclosures, security interest. There are various types of UCC3 Financing Statement Amendment Addendums, each serving a specific purpose. Some common types include: 1. Correction Addendum: This addendum is used to rectify any errors or inaccuracies present in the original UCC1 filing. It allows parties to correct information such as debtor names, addresses, or collateral descriptions. 2. Amendment Addendum: This type of addendum is employed when there is a need to modify the existing terms or conditions of a UCC1 filing. Parties can use this amendment to adjust the collateral description, extend the duration of the security interest, or change any other relevant provisions. 3. Continuation Addendum: When the original filing's effectiveness is about to expire, the continuation addendum is utilized to extend the duration of the UCC1 financing statement. It ensures the security interest remains valid and avoids any potential lapse. 4. Termination Addendum: In cases where a debtor has fulfilled their financial obligations or the secured party no longer has an interest in the collateral, the termination addendum is filed to officially release the UCC1 financing statement. It terminates the security interest and removes it from the public record. Keywords: Correction Addendum, Amendment Addendum, Continuation Addendum, Termination Addendum, UCC1 financing statement, rectify errors, modify terms, extend duration, release security interest, public record. Understanding the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum and its types is essential for businesses and individuals engaged in secured transactions. Adhering to UCC requirements can help ensure accuracy, clarity, and legal compliance in financial arrangements. In conclusion, the Hillsboro Oregon UCC3 Financing Statement Amendment Addendum is a vital component of secured transactions. By utilizing various types of addendums, parties can correct errors, modify terms, extend durations, or terminate security interests as per their specific needs. Compliance with the Uniform Commercial Code is crucial for maintaining accurate and up-to-date financial records in Hillsboro, Oregon. Keywords: Hillsboro Oregon, UCC3 Financing Statement Amendment Addendum, types, secured transactions, accuracy, compliance, financial records.