the uniform commercial code made easy pdf

#The uniform commercial code made easy pdf free#

Within the code one of the most important articles is Article 9, Secured Transactions, which provides the governing rules for any transaction that combines a debt with a creditor’s interest in a debtor’s personal property. The articles of the UCC are a set of laws governing the sale of goods, leases, negotiable instruments, bank deposits, funds transfers, letter of credit, bulk transfers, bulk sales, warehouse receipts, bills of lading, investment securities and secured transactions. The Uniform Commercial Code contains the legal framework that governs commercial business transactions. Legal codes and laws are not an easy subject to understand. We are hopeful that “UCC Article 9 for Dummies” will provide a quick guide to help the commercial creditor take advantage of the tools available to successfully secure their accounts receivable. The bad news is that most of us are not legal experts and it can be a daunting task to research and understand the UCC. It is called the Uniform Commercial Code (UCC). The good news is that there are laws and regulations that provide protection for B2B creditors and give us legal remedies to help mitigate the risk that comes with the extension of trade credit.

In a competitive environment, it is essential that we find ways to efficiently leverage the extension of credit to accommodate these goals.

However, the last we checked, our companies have sales growth, increased market share and profitability as their core goals.

#The uniform commercial code made easy pdf free#

The prudent and risk free approach would be to require payment at the time of the transaction. Unfortunately, as B2B creditors, we often don’t have the luxury of requiring collateral to extend credit. Trade credit is essential to the accommodation of sales growth and, as we know, there is always some risk associated with the extension of credit. “Risk comes from not knowing what you’re doing”Īs a credit manager in the world of business to business (B2B) commerce, it is your job to facilitate sales while managing the risk associated with the extension of credit and protecting your company’s investment in accounts receivable. UCC Article 9 for Dummies Graduate School of Credit and Financial Management By: Christen Borman, Douglas Jacobson, Jovan Rosa, Rocky Thomas, Susan Thomas, and Melvin Ucelo