The UCC1 Financing Statement form contains three main sections: debtor information,
secured party information and collateral description. What follows is a brief discussion of
each of these sections:
Sections 1 and 2 on the form are designated for listing the debtor or debtors by name and
address. A debtor can be an individual person or a business entity. Multiple debtors may
be included on a single filing with up to two showing on the face page of the form and
additional debtors being shown on an additional party addendum form.
In order for a UCC filing to be effective, it must reflect the exact legal name of the debtor.
For business debtors, additional information such as type of organization, jurisdiction of
organization and organization ID may be required..
Secured Party Information
Section 3 of the UCC Financing Statement form is used to identify the secured party’s name
and address. The secured party is the lender or creditor to whom the debtor has pledged
Section 4 is where the secured party details what items the debtor has promised in order
to secure the loan. The collateral description must reasonably identify the collateral that
is described in the signed security agreement. A UCC filer can list the collateral in box 4 of
the UCC Financing Statement form or on attachment or exhibit pages.