This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
The Suffolk New York UCC Financing Statement Addendum is a legal document that provides additional information and details regarding a financing statement filed under the Uniform Commercial Code (UCC) in Suffolk County, New York. This addendum is often required to ensure completeness and accuracy of the original financing statement. The UCC Financing Statement Addendum in Suffolk County, New York, serves as an extra attachment or supplement to the original financing statement. It includes essential details that may have been omitted or require clarification in the primary filing. The purpose of this addendum is to provide a comprehensive and transparent record of the debtor's collateral and other relevant information. By filing a UCC Financing Statement Addendum in Suffolk County, businesses and lenders can protect their rights and interests in a secured transaction. The addendum adds specificity to the original filing, allowing parties to define the scope, terms, and conditions of the security interests. There are various types of Suffolk New York UCC Financing Statement Addendums that can be filed, depending on the specific requirements of the situation: 1. Collateral Changes Addendum: This addendum is used when there is a need to modify or update the description of collateral listed in the original financing statement. It ensures accurate identification and classification of the assets involved. 2. Amendment Addendum: This addendum is filed to make changes to the original financing statement, such as correcting errors, updating debtor information, or modifying the financing statement's duration or termination date. 3. Continuation Addendum: This addendum is used to extend the duration of the original financing statement beyond the initial expiration date. It ensures that the security interest remains in force and continues to provide protection to the secured party. 4. Termination Addendum: When a secured party no longer has an interest in the collateral, this addendum is filed to terminate the financing statement. It removes any claim of the secured party to the specified assets. Filing a Suffolk New York UCC Financing Statement Addendum is an integral part of the UCC process, as it ensures clarity, accuracy, and compliance with legal requirements. It enables parties involved in a transaction to establish, maintain, and protect their rights in secured transactions, giving them peace of mind and legal security in Suffolk County, New York.The Suffolk New York UCC Financing Statement Addendum is a legal document that provides additional information and details regarding a financing statement filed under the Uniform Commercial Code (UCC) in Suffolk County, New York. This addendum is often required to ensure completeness and accuracy of the original financing statement. The UCC Financing Statement Addendum in Suffolk County, New York, serves as an extra attachment or supplement to the original financing statement. It includes essential details that may have been omitted or require clarification in the primary filing. The purpose of this addendum is to provide a comprehensive and transparent record of the debtor's collateral and other relevant information. By filing a UCC Financing Statement Addendum in Suffolk County, businesses and lenders can protect their rights and interests in a secured transaction. The addendum adds specificity to the original filing, allowing parties to define the scope, terms, and conditions of the security interests. There are various types of Suffolk New York UCC Financing Statement Addendums that can be filed, depending on the specific requirements of the situation: 1. Collateral Changes Addendum: This addendum is used when there is a need to modify or update the description of collateral listed in the original financing statement. It ensures accurate identification and classification of the assets involved. 2. Amendment Addendum: This addendum is filed to make changes to the original financing statement, such as correcting errors, updating debtor information, or modifying the financing statement's duration or termination date. 3. Continuation Addendum: This addendum is used to extend the duration of the original financing statement beyond the initial expiration date. It ensures that the security interest remains in force and continues to provide protection to the secured party. 4. Termination Addendum: When a secured party no longer has an interest in the collateral, this addendum is filed to terminate the financing statement. It removes any claim of the secured party to the specified assets. Filing a Suffolk New York UCC Financing Statement Addendum is an integral part of the UCC process, as it ensures clarity, accuracy, and compliance with legal requirements. It enables parties involved in a transaction to establish, maintain, and protect their rights in secured transactions, giving them peace of mind and legal security in Suffolk County, New York.