UCC Filing Lawyers

A UCC filing is a specific procedure used to secure rights in commercial activity. The term references the Uniform Commercial Code, a federal law that governs many varieties of commercial transactions. Most states have adopted all or a major portion of the Uniform Commercial Code. A UCC filing preserves the right to recover money, goods or other value in the event of non-performance by another party, declarations of bankruptcy, or other things that cause a transaction to fail. When this is accomplished, the underlying business arrangement is often called a secured transaction. When a transaction is secured in this way, banks and other providers of trade finance are more likely to finance the transaction.