Legal Question in Credit and Debt Law in Georgia

UCC-1 Form / Security Agreement

I work for a capitol equipment mnfg and we require UCC-1 forms and security agreements from our sub-distributors. They object to the UCC-1 forms stating that it has a negative impact on thier credit and D&B. My impression is that it only gives us the rights to the equipment that has not been paid for or payment from receivables for equipment not paid for. Is this true?


Asked on 3/18/09, 11:06 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: UCC-1 Form / Security Agreement

No one here knows what your documents (including the UCC-1 and other related documents) state. Someone there certainly should know what they say and mean, so see a lawyer to get an explanation and/or the appropriate documents, and avoid issues in the future.

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Answered on 3/18/09, 3:11 pm


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