This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
The Palm Beach Florida UCC Financing Statement Addendum is a crucial legal document used in commercial transactions. It serves as an extension or an addition to the primary UCC (Uniform Commercial Code) Financing Statement, providing further details and clarifications. This addendum is typically filed with the Florida Secretary of State's office to provide additional information about the debtor and collateral involved in the financing arrangement. The Palm Beach Florida UCC Financing Statement Addendum contains various essential elements, including: 1. Identification of Debtor: This section specifies the name and address of the debtor involved in the transaction. It ensures that all parties have accurate information regarding the individual or business responsible for the debt. 2. Identification of Secured Party: The addendum also requires the identification of the secured party or parties involved in the financing arrangement. This information helps establish the parties with an interest in the collateral. 3. Collateral Description: This section provides a detailed description of the collateral used to secure the debt. It may include assets like inventory, equipment, accounts receivable, or real estate. The addendum allows for a comprehensive and precise identification of the pledged assets. 4. Perfection Information: The addendum requires the inclusion of specific details regarding the perfection of the security interest. This might involve information related to the filing of other applicable documents or any supporting agreements. As for the different types of Palm Beach Florida UCC Financing Statement Addendum, they vary based on the specific requirements of each transaction. Some common variations might include: 1. Amendment Addendum: This type of addendum is used when there is a need to modify or update information stated in the original UCC Financing Statement Addendum. It can be filed if there are changes in the debtor's name, address, secured party, or any other relevant details. 2. Termination Addendum: When a debt has been fully repaid or when all obligations have been met, a termination addendum is filed to release the secured party's interest in the collateral. This document confirms that the debt has been satisfied, releasing the debtor from any further obligations. 3. Continuation Addendum: In cases where the original UCC Financing Statement filings are about to expire, a continuation addendum is filed to extend the duration of the filing. This ensures that the secured party's interest remains properly recorded and in effect. In conclusion, the Palm Beach Florida UCC Financing Statement Addendum is an essential legal instrument that provides additional details and modifications to the primary UCC Financing Statement. It ensures accuracy, clarity, and compliance in commercial transactions, providing a comprehensive record of the involved parties, collateral, and other relevant information.The Palm Beach Florida UCC Financing Statement Addendum is a crucial legal document used in commercial transactions. It serves as an extension or an addition to the primary UCC (Uniform Commercial Code) Financing Statement, providing further details and clarifications. This addendum is typically filed with the Florida Secretary of State's office to provide additional information about the debtor and collateral involved in the financing arrangement. The Palm Beach Florida UCC Financing Statement Addendum contains various essential elements, including: 1. Identification of Debtor: This section specifies the name and address of the debtor involved in the transaction. It ensures that all parties have accurate information regarding the individual or business responsible for the debt. 2. Identification of Secured Party: The addendum also requires the identification of the secured party or parties involved in the financing arrangement. This information helps establish the parties with an interest in the collateral. 3. Collateral Description: This section provides a detailed description of the collateral used to secure the debt. It may include assets like inventory, equipment, accounts receivable, or real estate. The addendum allows for a comprehensive and precise identification of the pledged assets. 4. Perfection Information: The addendum requires the inclusion of specific details regarding the perfection of the security interest. This might involve information related to the filing of other applicable documents or any supporting agreements. As for the different types of Palm Beach Florida UCC Financing Statement Addendum, they vary based on the specific requirements of each transaction. Some common variations might include: 1. Amendment Addendum: This type of addendum is used when there is a need to modify or update information stated in the original UCC Financing Statement Addendum. It can be filed if there are changes in the debtor's name, address, secured party, or any other relevant details. 2. Termination Addendum: When a debt has been fully repaid or when all obligations have been met, a termination addendum is filed to release the secured party's interest in the collateral. This document confirms that the debt has been satisfied, releasing the debtor from any further obligations. 3. Continuation Addendum: In cases where the original UCC Financing Statement filings are about to expire, a continuation addendum is filed to extend the duration of the filing. This ensures that the secured party's interest remains properly recorded and in effect. In conclusion, the Palm Beach Florida UCC Financing Statement Addendum is an essential legal instrument that provides additional details and modifications to the primary UCC Financing Statement. It ensures accuracy, clarity, and compliance in commercial transactions, providing a comprehensive record of the involved parties, collateral, and other relevant information.
