Factoring Company- Glossary > Factoring Terms > UCC-1


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A document that is placed on record with the Secretary of State or with the county recording office. The purpose of filing this document is to evidence the funding source's security interest in the client's personal property. This document is filed in the state or county in which the client's business is located.


 

 

Last updated on September 28, 2009 by FACTOR KING, LLC