Secured transactions are the most common form of commercial transaction and help finance businesses of every size.
They are governed by the complex provisions of UCC Article 9. Getting every detail in financing statements, security agreements, and perfection of credits is essential. Agreements can be costly and time consuming to draft, and full of risk. Failure to comply with UCC Article 9 in drafting security agreements, perfecting a creditor's interest, or foreclosing a lien can easily cause the value of the underlying transaction to be lost.
This program provides a real-world guide UCC Article 9 practice.
Part 1 topics include:
- Lifecycle of UCC Article 9 secured transactions
- Drafting cost-effective and enforceable security agreements
- What to do when something about the debtor changes – e.g., name, location, ownership
- Accounts receivable, inventory, equipment, intellectual property
- Anti-assignment provisions regarding collateral
- Enhancing enforceability of security agreements and reduce risks in foreclosure