Factoring Company- Glossary > Factoring Terms > Uniform Commercial Code (UCC)

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Uniform Commercial Code is a set of standard rules, adopted by states in US, that governs commercial transactions. The Uniform Commercial Code Bureau files and maintains record on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

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