This review list is offered to help you learn more about the document in question and prepare it. This is a request from a debtor to a secured party for the secured party to certify the specific amount owed from the debtor. This is beneficial for a variety of reasons, including the benefit of your financial statements and, if applicable, your auditors.
- Make several copies. Keep one in your financial file, one in the file of the secured party, and one in a follow-up file.
Debtor Request For Certified Statement From Secured Party
Debtor Request for Certified Statement from Secured Party
TO: ________________________
____________________________
____________________________
____________________________Attention: __________________
FROM: ______________________
____________________________
____________________________
____________________________Attention: __________________
Dated: ___________________________Pursuant to Section 9-208 of the Uniform Security Code, ____________________, as debtor, requests that the Secured Party, __________________________, provide:
A statement of account, indicating the aggregate amount of unpaid indebtedness as of _______________________. Approval of the following statement of collateral as constituting a correct statement of the collateral claimed by Secured Party as of ______________________.
See Exhibit “1” to this form.
The statement above is (check one):
__ Accepted as correct
__ Incorrect, our corrections or response are attached hereto
Dated: ____________________________________
________________________, by:
___________________________________________________
An Authorized Officer
Title: ____________________________________________________________________, by:
__________________________________________________
An Authorized OfficerTitle: _____________________________________
Debtor Request for Certified Statement from Secured Party
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. This is request from a debtor to secured party to certify the exact amount then due from debtor. This is useful for a variety of reasons, among them for the benefits of your financial statements and your auditors, should you have them.
1. Make multiple copies. Put one in your financial file, another in the secured party’s file, and the other in a follow-up file.
Frequently Asked Questions
What is a debtor request for certified statement from secured party?
A debtor request for certified statement from secured party is a formal document used by a debtor to ask the secured party to provide a statement of account and approval of collateral. It is made pursuant to Section 9-208 of the Uniform Commercial Code. The request seeks an aggregate amount of unpaid indebtedness and a correct statement of collateral as of a specific date.
When should a debtor send a request for certified statement to a secured party?
A debtor should send this request when they need an official statement of the unpaid indebtedness and confirmation of the collateral claimed by the secured party. It is typically used to verify the current status of the debt and collateral. The request specifies a date as of which the information is provided.
What information must be included in a debtor request for certified statement?
The request must include the debtor's and secured party's names and addresses, the date of the request, and a reference to Section 9-208 of the Uniform Commercial Code. It should also specify the date as of which the statement of account and collateral statement are requested. The debtor may attach an exhibit listing the collateral.
What is the secured party required to provide in response to a debtor request for certified statement?
The secured party must provide a statement of account indicating the aggregate amount of unpaid indebtedness as of a specified date. They must also approve or correct a statement of collateral as constituting a correct statement of the collateral claimed. The response should be provided as per the requirements of Section 9-208.
What does Section 9-208 of the Uniform Commercial Code require?
Section 9-208 of the Uniform Commercial Code governs the debtor's right to request a statement of account and a statement of collateral from the secured party. It outlines the procedure for the debtor to make such a request and the secured party's obligation to respond. The section ensures transparency regarding the debt and collateral.
How does a debtor accept or dispute the secured party's statement of collateral?
The debtor can indicate acceptance by checking the box labeled 'Accepted as correct' on the form. If the debtor disagrees, they can check 'Incorrect, our corrections or response are attached hereto' and attach their corrections. This allows the debtor to formally respond to the secured party's statement.
What is the purpose of a statement of account in a debtor request for certified statement?
The statement of account provides the aggregate amount of unpaid indebtedness as of a specific date. It helps the debtor understand the current financial obligation. This information is crucial for verifying the debt and ensuring accurate records.
Who can sign a debtor request for certified statement from secured party?
The form is signed by an authorized officer of the debtor, as indicated by the signature block. The title of the authorized officer is also required. This ensures that the request is officially authorized by the debtor entity.
What happens if the secured party fails to respond to a debtor request for certified statement?
The article does not specify the consequences of a secured party's failure to respond. However, under Section 9-208, the secured party is required to provide the statement. Failure to comply may result in legal remedies as provided by the Uniform Commercial Code.
Is a debtor request for certified statement from secured party legally binding?
Yes, it is a legal document made pursuant to Section 9-208 of the Uniform Commercial Code. It creates a formal obligation for the secured party to respond. The debtor's acceptance or dispute of the collateral statement also has legal implications.
