This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
A Salt Lake Utah UCC Financing Statement Addendum is a legal document used in the state of Utah to provide additional information regarding a UCC financing statement. It is typically filed along with the UCC financing statement to clarify or correct any information contained in the original filing. The purpose of the UCC Financing Statement Addendum is to ensure that the public record accurately reflects the details of a secured transaction, particularly in cases where the initial financing statement may not contain complete or accurate information. The addendum provides an opportunity to provide additional information or make necessary amendments, thereby avoiding any potential confusion or disputes in the future. The Salt Lake Utah UCC Financing Statement Addendum typically contains essential details such as debtor information, secured party information, and collateral description. It may also provide specific instructions or limitations related to the financing statement. It is important to note that different types of UCC Financing Statement Addendums can be utilized based on the particular circumstances and requirements of the secured transaction. Some commonly used addendum types in Salt Lake Utah include: 1. Amendment Addendum: This addendum is used to make changes, corrections, or amendments to the original UCC financing statement. It can be used to update debtor information, modify or add collateral descriptions, or revise the secured party information. 2. Assignment Addendum: In cases where the secured party transfers its interest in the collateral to another party, an assignment addendum is filed to reflect the change in the secured party. 3. Continuation Addendum: A continuation addendum is used to extend the effectiveness of the UCC financing statement beyond its initial filing period, which is typically five years in Utah. This addendum ensures that the security interest remains valid and enforceable. 4. Termination Addendum: When the secured debt has been fully repaid, or the collateral is no longer subject to the security interest, a termination addendum is filed to officially end the UCC financing statement. 5. Partial Release Addendum: In situations where portions of the collateral are released from the security interest, a partial release addendum is utilized to remove the released portions from the UCC financing statement. By utilizing the appropriate Salt Lake Utah UCC Financing Statement Addendum, lenders, debtors, and other interested parties can ensure that their rights and obligations are accurately reflected in the public record, providing clarity and reducing the risk of potential disputes or confusion in the future.A Salt Lake Utah UCC Financing Statement Addendum is a legal document used in the state of Utah to provide additional information regarding a UCC financing statement. It is typically filed along with the UCC financing statement to clarify or correct any information contained in the original filing. The purpose of the UCC Financing Statement Addendum is to ensure that the public record accurately reflects the details of a secured transaction, particularly in cases where the initial financing statement may not contain complete or accurate information. The addendum provides an opportunity to provide additional information or make necessary amendments, thereby avoiding any potential confusion or disputes in the future. The Salt Lake Utah UCC Financing Statement Addendum typically contains essential details such as debtor information, secured party information, and collateral description. It may also provide specific instructions or limitations related to the financing statement. It is important to note that different types of UCC Financing Statement Addendums can be utilized based on the particular circumstances and requirements of the secured transaction. Some commonly used addendum types in Salt Lake Utah include: 1. Amendment Addendum: This addendum is used to make changes, corrections, or amendments to the original UCC financing statement. It can be used to update debtor information, modify or add collateral descriptions, or revise the secured party information. 2. Assignment Addendum: In cases where the secured party transfers its interest in the collateral to another party, an assignment addendum is filed to reflect the change in the secured party. 3. Continuation Addendum: A continuation addendum is used to extend the effectiveness of the UCC financing statement beyond its initial filing period, which is typically five years in Utah. This addendum ensures that the security interest remains valid and enforceable. 4. Termination Addendum: When the secured debt has been fully repaid, or the collateral is no longer subject to the security interest, a termination addendum is filed to officially end the UCC financing statement. 5. Partial Release Addendum: In situations where portions of the collateral are released from the security interest, a partial release addendum is utilized to remove the released portions from the UCC financing statement. By utilizing the appropriate Salt Lake Utah UCC Financing Statement Addendum, lenders, debtors, and other interested parties can ensure that their rights and obligations are accurately reflected in the public record, providing clarity and reducing the risk of potential disputes or confusion in the future.
