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UCC FINANCING STATEMENT ADDENDUM FOLLOW INSTRUCTIONS (front and back) CAREFULLY 9. NAME OF FIRST DEBTOR (1a or 1b) ON RELATED FINANCING STATEMENT 9a. ORGANIZATION'S NAME OR 9b. INDIVIDUAL'S LAST NAME

How to fill out ucc1ad form

How to Fill Out UCC1AD:

1. Gather the necessary information: Before filling out the UCC1AD form, you need to gather all the required information. This includes the debtor's name and address, the secured party's name and address, a description of the collateral, and any additional details relevant to the transaction.
2. Fill in the debtor's information: Start by entering the debtor's name exactly as it appears on their official identification documents. Then, provide their address, including the street, city, state, and zip code. It is important to ensure accuracy and clarity when entering this information.
3. Provide the secured party's information: Similarly, enter the secured party's name and address accurately. This includes the name of the individual or organization that will be receiving the security interest in the collateral.
4. Describe the collateral: The UCC1AD form requires a detailed description of the collateral being pledged as security. It is essential to provide an accurate and specific description to avoid any confusion or disputes later on. Include any relevant details such as make, model, serial numbers, or any other identifying information.
5. Check appropriate boxes and identify additional debtors: There may be several checkboxes on the form that need to be filled in, indicating the type of collateral or other relevant details. Make sure to carefully read each option and select the appropriate ones. If there are any additional debtors involved in the transaction, their information should also be provided.

Who needs UCC1AD:

1. Secured parties: Secured parties, such as lenders or creditors, need UCC1AD forms to protect their interests in collateral. By filing a UCC1AD form, they establish a public record of their security interest, which can help them recover their property or assets if the debtor defaults on the loan or payment agreement.
2. Debtors: Debtors may also need to know about UCC1AD forms, especially if they are pledging collateral as security. Understanding the purpose and implications of the UCC1AD can help debtors make informed decisions and protect their rights in the transaction.
3. Financial institutions: Banks, credit unions, and other financial institutions frequently deal with UCC1AD forms when providing loans or financing arrangements. They require these forms to ensure that their interests are properly secured and to comply with legal and regulatory requirements.

Overall, filling out a UCC1AD form involves providing accurate information about the debtor, secured party, and collateral. It is essential for both secured parties and debtors to understand the purpose and implications of the form in order to protect their respective interests in the transaction.

For pdfFiller’s FAQs

What is ucc1ad?

ucc1ad is a financing statement that is filed to secure an interest in personal property.

Who is required to file ucc1ad?

Creditors who want to secure their interest in personal property are required to file ucc1ad.

How to fill out ucc1ad?

To fill out ucc1ad, you need to provide information about the debtor, creditor, and the collateral being secured.

What is the purpose of ucc1ad?

The purpose of ucc1ad is to establish a creditor's priority in case of the debtor's default or bankruptcy.

What information must be reported on ucc1ad?

Information such as debtor's name and address, creditor's name and address, collateral description, and filing fees must be reported on ucc1ad.

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