- What is a financing statement?

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Uniform Commercial Code (UCC)

What is a financing statement?

Answer:

A financing statement is an initial financing statement and all UCC documents that relate to the initial financing statement. An initial financing statement was formerly called an original financing statement. A financing statement is filed to perfect a security interest and provide a public notice of a security agreement between a debtor and a secured party. The financing statement describes certain types of collateral or property used as surety for the security agreement.

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