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Have you filed a UCC-1 to secure your interest in certain collateral? Well, if you have and you need to continue, amend, assign, or terminate your UCC filing, you will file a UCC-3.
Continuation This type of UCC-3 continues the agreement for five years past the maturity date. It must be submitted in the six months before the UCC-1 matures.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.) The file number of the original financing statement.
UCC-3 party amendments: A UCC-3 amendment is a type of filing used to change or add critical information about the debtor or the secured party. For example, they can be used to change the name or the address.
Its true, a UCC-3 is used to continue your existing filing, amend your existing filing, terminate your existing filing, or assign your interest to another secured party. Continuation. A UCC is effective for 5 years.

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Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)
Time Limitations for Filing a Continuation Statement In order to be valid, the continuation statement must be filed within the six month period before the expiration of the financing statements five year life. If the continuation statement is filed earlier, it will be ineffective.
Record Filing Procedures. UCC records may be submitted directly to the Secretary of States office using the UCC information management system which can be accessed through the Secretary of States website.
UCC stands for Uniform Commercial Code. It also covers secured transactions, where a lender gains the right to foreclose on a borrowers collateral should the borrower default on the loan. This is also called a security interest.
A UCC 3 Subordination is a form used when more than one lender has an interest in the same collateral. In this situation, a subordination agreement should be signed in order to establish the order in which the lenders will be refunded the money.

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