Factoring Company- Glossary > Factoring Terms > UCC-3

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A document that is placed on record with the Secretary of State or with the county recording office to evidence a change in status for a UCC-1. With respect to cash flow, a UCC-3 (or UCC-2) may be used to evidence assignment or termination of a UCC-1 or to make another applicable change.

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