What is a Financing Statement?

Definition:

A document filed by a creditor to perfect the creditor’s interest in security granted to the creditor by a borrower. Also known as a UCC-1 Financing Statement, a Financing Statement need only contain: the debtor’s name and address; the creditor’s name and address; and a description of the collateral. A Financing Statement is unrelated to a Financing Statement.

See also Uniform Commercial Code.

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