UCC PURCHASE MONEY SECURITY INTEREST

Protecting inventory from default prior to release is critical for anyone selling goods on credit or for a third-party financing source. Establishing a purchase money security interest (PMSI) helps mitigate risk. However, complying with the PMSI requirements of the Uniform Commercial Code (UCC) can be a labor-intensive and time-consuming process. Let CSC help you with PMSI notifications and filing UCC financing statements.

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UCC filings and PMSI expertise

CSC serves thousands of financial institutions—including many of the world’s largest lenders, from commercial banks and capital finance companies to large leasing enterprises and alternative lenders.

Perfect your interest online

CSC can help you create and send your PMSIs electronically using an electronic certified mail website to send to lien holders.

Enjoy unmatched customer support

You’ll have access to dedicated account experts. They’ll provide live, personalized service during extended business hours.

TECHNOLOGY SOLUTIONS

CSCFinancialOnlineSM

CSCFinancialOnline was designed specifically for the financial services industry and has the industry’s largest online UCC database, providing more UCC search records—including tax lien searches and debtor searches—and delivering faster results than any other UCC filing service.

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FAQs

  • What is a PMSI?

    A PMSI is a valuable risk management tool for those who finance a debtor’s acquisition of goods. It provides the secured party with the first priority security interest in the purchase-money collateral, even if other creditors hold earlier-perfected security interests. As an exception to the general priority rules, the secured party must strictly comply with the statutory PMSI requirements to obtain PMSI priority.

  • How do you perfect a PMSI?

    In general, to perfect a PMSI agreement, the filing must be date-stamped by the filing office within 20 calendar days after delivery of the collateral, and the collateral must be specific—not a blanket lien.

  • How do I get started with CSC’s PMSI service?

    Fill out the form to request PMSI service. Then provide CSC with the notification letter or letters that you’ll be sending, and the letterhead you’ll be using. We’ll store the letters on the CSC system until you’re ready to send.

ADDITIONAL RESOURCES

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This information is not intended to be legal advice. You should not act or rely on any information contained in this presentation without seeking the advice of an attorney.