ucc 3 definition

ucc 3 definition

Glossary: ucc 3

UCC-3 is a document that is filed with the Secretary of State and/or the County Clerk's office(s) as evidence of an assignment, release or change in the UCC-1. In the case of factoring, a UCC-3 is filed to terminate a UCC- 1 when all outstanding invoices are paid and the relationship between the client and the factor is severed. UCC-3 is also called UCC Statement With Respect To Change.


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Business Consulting

Definition: ucc 3

Factoring provides cash to your business with no time delay from issuing invoices as well as sales ledger and collection services.

Accounts Receivables Financing (Factoring): The factor manages your invoices and provides you with credit control and collection services of all your outstanding debts.

Factoring Glossary - Define: ucc 3 - 2004 HJ Ventures International, Inc.