UCC Document Community

Quick question - does Florida require any specific format for the debtor address or is standard business address fine? Some states are picky about PO boxes vs street addresses.

Just wanted to chime in as someone who's relatively new to UCC filings - this thread has been incredibly helpful! I'm working on my first equipment financing deal in Florida and was completely lost on the process. The $20 fee seems very reasonable, and all the tips about debtor name matching and collateral descriptions are gold. One follow-up question - is there a good resource or guide for first-timers to walk through the Florida online filing process step by step? I want to make sure I don't miss anything important on my first go.

This conversation really highlights why having a solid understanding of UCC gap-filling is essential for commercial lending. One additional consideration for your $485K equipment deal - make sure you understand how your state handles the interaction between UCC default provisions and any conflicting state commercial law. Some states have specific statutes that override certain UCC gap-filling rules, particularly around notice timing and collection procedures. I'd recommend doing a quick state law check alongside reviewing those Article 9 enforcement sections that Sean mentioned. Also, given the size of this deal, it might be worth having your legal team review the security agreement template you're using to identify any other potential gaps before your next similar transaction.

Great thread on UCC gap-filling! One thing I'd add is that beyond the enforcement provisions everyone's mentioned, you should also consider how gap-filling works for priority disputes if other creditors are involved. UCC 9-322 provides default priority rules, but if your security agreement doesn't clearly define what constitutes "proceeds" or doesn't address commingling of collateral funds, you could end up relying on UCC default definitions that might not be as broad as you'd want. For equipment financing deals like yours, this becomes especially important if the borrower trades in the equipment or if insurance proceeds get involved. The UCC will fill these gaps, but the default rules around proceeds and priority can be complex and sometimes favor other creditors or the debtor more than a well-drafted agreement would.

Bottom line - consignments under Article 9 require careful documentation and UCC filing by the consignor. Don't assume it's simpler than a secured transaction just because it's called a consignment. The perfection requirements are there for good reason.

Great discussion everyone! As someone who's worked on both sides of consignment arrangements, I'd emphasize that coordination between consignor and consignee is absolutely critical. The consignor's UCC-1 filing is essential, but Emma you're right to be concerned - you need to make sure your existing lender is properly notified about the consigned goods. I've seen situations where inadequate communication led to lenders inadvertently claiming consigned inventory during workout situations. Also consider including specific language in your consignment agreement about UCC filing responsibilities and deadlines to avoid any confusion about who does what when.

One more thing - make sure you get your filing receipts and confirmation numbers. Georgia's system usually emails them automatically but sometimes they end up in spam folders. You'll need those for your closing documents.

Thanks everyone for the detailed responses! This is exactly what I needed. Sounds like I should budget $100 for the 10 UCC-1 filings at $10 each, plus maybe an extra $30 for any potential rejections. I'm definitely going to triple-check all the debtor names against the corporate charters before submitting - those rejection stories are scary when you're on a tight deadline. I might look into that Certana.ai tool a few people mentioned for the document verification. Really appreciate all the practical tips about the portal, confirmation emails, and collateral descriptions. This community is invaluable for getting real-world insights beyond what's on the official websites!

Just to add another perspective - I've been doing UCC filings for about 8 years now and can confirm that business inventory and equipment always require filing for perfection. The automatic perfection rules are really narrow and designed for specific consumer scenarios where the administrative burden of filing would be excessive. For your $85K inventory + $30K equipment situation, you're definitely in filing territory. Also worth noting that even if automatic perfection somehow applied (which it doesn't here), you'd still want to file anyway because it gives you better priority protection and clearer notice to other potential creditors. The filing fees are minimal compared to the risk of having an unperfected security interest. Better to over-file than under-file in commercial lending.

This is a great discussion and really helpful for someone new to secured lending. I'm just starting out in commercial finance and the distinction between automatic perfection and filing requirements was confusing me too. From everything I'm reading here, it sounds like the rule of thumb is: when dealing with business/commercial collateral (inventory, equipment, etc.), always file the UCC-1. Automatic perfection is really just for specific consumer goods scenarios where filing would be impractical. The point about priority protection is especially important - even if automatic perfection might technically apply in some edge case, the filed UCC-1 gives you better standing against other creditors. For the minimal cost of filing, it seems like the obvious choice for business loans. Thanks everyone for breaking this down so clearly!