You’ve probably seen the recent commercials on TV that start with the catchphrase, “you wouldn’t accept an incomplete job from anyone else, so why do you accept it from your allergy medicine?”. AT&T has also been running a series of ads with the tagline “just OK is not OK…expect more from your wireless provider”.
At Do Diligence, we feel the same way about search reports. Why accept an “OK” search report that provides incomplete results? Most providers deliver a very basic search report that lists minimal information such as file dates, debtor names, secured party names, type of filing, etc.
However, these search reports fail to provide you with what is arguably the most important information on a UCC filing: the collateral description! We understand that this can cause frustration, as it often requires you to dig through copies of UCC filings trying to decipher what collateral is covered, and then having to re-key the results to link the relevant collateral to the appropriate filing.
That is why the Do Diligence search report ALWAYS lists the collateral description for each UCC filing as part of our standard report! We take the collateral description located in Field 4 of the financing statement, as well as any changes to the covered collateral that may occur via UCC-3 amendment statements, and provide it for each filing listed in the report. We do this for all the results we provide, from every state filing office, as well as every county office.
To see how much time and effort you can save by using the Do Diligence search report, please click here: