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Pitchbook

What is a Uniform Commercial Code (UCC) filing?

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UCC stands for uniform commercial code and is a set of rules to govern commercial transactions. They represent a securitized debt obligation between a lender and a borrower. Uniform commercial codes are essentially an announcement of a lenders right to certain assets of the borrower. If a borrower fails to make a payment, the earliest lenders (those first to file) would be first in line to claim certain assets.

Read now to find out about UCC filing and how it works.

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Related categories
Financial Services, Financial Technology, Financial Technology, Security Solutions

 

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