UCC Filing

Definition

A public registration that a lender has a security interest in your assets, basically a warning label for future creditors.

Example Usage

We have three UCC filings against our inventory from different lenders fighting over collateral.

Origin

Uniform Commercial Code terminology, established 1952

Fun Fact

UCC filings are searchable public records, so anyone can discover what a business has pledged as collateral

Source: Lending and secured transactions terminology

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