When a due diligence search report indicates liens have been found, there are two very important questions you need to ask:
1. Was the search conducted against the correct business entity name, and is there a way to confirm that the name searched was the correct name for the entity, according the formation documents on file at the Secretary of State’s office?
2. Do I need to take immediate action to protect my client’s interests, and to address the liens that were uncovered?
The Do Diligence search report contains two vital pieces of information that will help you quickly answer these questions!
ENTITY ID: For each entity debtor, we will provide its associated entity ID number on file at the Secretary of State’s office. This allows you to confirm that the name used in the search matches your entity. It also saves you time by ensuring the UCC search results correspond correctly to any corporate filings that are involved in the transaction.
LAPSE DATE: The lapse date for each filing is provided in the listing, which allows you to identify next steps, and take immediate action on filings that need to be continued or otherwise addressed.
Contact us today to see the Do Diligence difference!