Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• FINANCING STATEMENTS
  
  Forms, usually standard UCC-1 forms, that are required by Article 9 of the UCC to be recorded in a designated public location in order to perfect a creditor’s lien in personal property collateral. The financing statement is used as a vehicle for a public recording that establishes lien priority — it does not normally constitute the actual agreement between the secured party and the debtor. For that reason, the financing statement by itself does not create a security interest and must therefore be supported by a separate security agreement or pledge agreement.
  
  Back