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| www.cscglobal.comContact UsArchive | March 2008 |
| New UCC Filing Handbook from CSC Gives Filers the Information They Need to File with Confidence You’ve just clicked Send to submit a Uniform Commercial Code filing, and already you’re having second thoughts. “Should I have put the debtor’s name in the individual field instead of the organizational field?” “Does the state require an organizational ID number?” “Was the collateral description too long?” RA9 UCC filings can be a nerve-wracking task, even for seasoned filers. Because even the most minor errors can have harsh consequences for a secured party, filers are rarely entirely comfortable with the records they send out. “All too often, both new and experienced filers find themselves worrying that they’ve put the company’s security interest at risk,” says Eric Geringswald, Director of UCC Product Development for CSC. “Even though they’ve learned the process, they know there are a lot of trouble spots that could affect the perfection status of their record.” Geringswald and his UCC team decided that filers needed a resource that would provide them with information about the filing process, but also give them hands-on instructions that they could refer to while completing the forms. The result is The UCC Filing Handbook and its companion state book, a comprehensive two-workbook set for understanding and preparing UCC filings, now available from CSC Publishing. The books are complemented by a website containing the books in a fully searchable format, plus additional resources and an Update Service that will automatically alert subscribers to important UCC news and changes. “Together, the books, website and Update Service form a complete package that the legal and financial communities can use as a hands-on resource for their filing professionals,” says Andrea Unterberger, Director of CSC Media. “The UCC Filing Handbook and its companion state book provide a level of detail that will help a broad segment of UCC filers, in both the financial and legal markets,” explains Paul Hodnefield, Associate General Counsel at CSC, who is responsible for advising the company on UCC search and filing issues. “It covers the subject of UCC filing exhaustively, and yet is written in plain lay terms to be useful to a large cross-section of UCC professionals.” “Many lenders and law firms lack good resources for training personnel new to this area, and resources that can serve as refreshers to people who have been filing for some time,” adds Geringswald. “These books really fill that gap.” Comprehensive Content Takes Filers by the Hand The UCC Filing Handbook begins with an overview of filing under RA9 UCC, with chapters about the forms, filing offices, the debtor, the secured party, collateral, and amendments. Potential filing pitfalls are highlighted throughout the chapters. The Handbook next provides a set of clear, detailed instructions for completing the National UCC forms. The instructions correspond to the fields found on the forms, and provide valuable information and background for each field. Items included in the right margin alert filers to traps, and refer back to the chapter material for additional information. “CSC’s UCC experts scrutinized the forms and filing process in order to give filers what they really need: field-by-field form instructions, with precise explanations about what information to include and how to avoid mistakes,” Unterberger explains. The UCC Filing Handbook, State by State is a critical component of the set, providing information about the filing requirements of the central index in each state. “The differences in filing requirements found at the state level can be the most troublesome for filers,” says Geringswald. “Our UCC team members did exhaustive research, and interviewed professionals working in state offices throughout the country so that we could include state-specific information about each of the fifty states and the District of Columbia.” Information in the state book is organized by the various national RA9 UCC forms, and ranges from font requirements to filing number formats, to the most common reasons for rejection in each state. “Filers can check everything, from how many copies to file, to how many characters are allowed in a collateral description,” says Unterberger. Designed for the Desk, not the Shelf “The UCC Filing Handbook and state book are meant to be hands-on desk references, not something for the bookshelves,” Eric Geringswald explains. The books are spiral-bound so that they stay open and lay flat, he says, noting that the binding on the state handbook is at the top, so that the bindings don’t get in the way of one another. “The books feature a clean, full-sized typeface and sturdy paper stock that can tolerate lots of handling,” Geringswald points out, adding that “side tabs indicate specific RA9 UCC forms and states, and sample forms have been included for practice and for note-taking, as well as a glossary of key UCC filing terms and a comprehensive index.” “These books are tools, designed for the ease of everyday use,” Geringswald emphasizes. UCC Handbook Website and Update Service Keep Filers Informed and In Touch In addition to the books, CSC’s UCC team wanted filers to have a resource that would keep them current on important UCC matters. “UCC filers need to be aware of changes in statutes, filing office procedures or case law that may have an effect on their loan documentation process,” explains Hodnefield. “The need to know is often immediate, so we created the website and update service to supplement the books.” The UCC Handbook Website is a powerful online tool that features the complete text of The UCC Filing Handbook and the companion state handbook in a searchable format, plus other valuable UCC resources, such as national UCC forms samples, UCC news, and an “Ask the UCC Experts” forum where readers can query CSC’s UCC team about UCC matters. Filers who register to use the website will be automatically enrolled in the UCC Update Service, which will notify them of significant RA9 UCC filing changes. The UCC team will provide regular monthly updates, so long as there is timely information to share, and emergency updates about important changes as soon as they occur. Updates will also be available on The UCC Handbook Website. Building a UCC Community “We are excited about this new set of UCC tools, but we are even more excited about the opportunity they give us to establish a UCC forum,” says CSC Media Director Andrea Unterberger. “This is a constantly changing area of business and law, and the UCC community will benefit from the information exchange that the website and update service provide.” “We urge our readers to tell us about any UCC filing changes they come across, and share their UCC experiences with us and with other professionals in the industry,” adds Eric Geringswald. “By systematically sharing information and experiences, the entire UCC community is better able to protect the security interests that are critical to their companies.” To order your copy of The UCC Filing Handbook and The UCC Filing Handbook, State by State, visit www.cscglobal.com/ucchandbook, or call us at 302.636.5401, extension 3372. To notify us of any UCC changes or questions you may have, email us at uccupdates@cscinfo.com. |
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