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Uniform Commercial Code (UCC) Vendors

Holland & Hart LLP

The Vendor's Lender: Secured Creditor's Rights in Receivables Are Paramount

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Accounts receivable serve as an important source of collateral – indeed, receivables and other rights to payment represent the lifeblood of asset-based lending, securitizations and factoring arrangements. Article 9 of the...more

Quarles & Brady LLP

Supply Chain Survival Series: Introduction (Article #1)

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It’s Friday at 3:00 p.m. at ABC Corp., and Mike from purchasing enters your office, slumping into his chair with a heavy sigh. Prime resin is in short supply. The next delivery will be weeks late, only half your order can be...more

Williams Mullen

Managing Legal Risks in the Supply Chain: A Note on Terms and Conditions of Sale

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Supply chain considerations for firearms industry members break down into two key relationships: your customers and your vendors. Ensuring that you have the components and other supplies you need and ensuring that you can...more

Lowenstein Sandler LLP

Do Not Take Consignments Lightly

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While things worked out for vendors who did not file a UCC-1 in the Sports Authority Chapter 11, you may not be so lucky. Never assume that it is not necessary to properly perfect a consignment arrangement by filing a...more

Lowenstein Sandler LLP

How To Modify Contracts With Struggling Vendors

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With Covid-19 wreaking havoc on global supply chains, vendors continue to face some difficult choices. Modifying the credit terms of contracts with struggling customers and even withholding credit is probably prudent. It’s...more

Buchalter

Consignment, the UCC, and You – Protecting Your Goods and Their Proceeds

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In a consignment distribution model, a third party Warehouse (the consignee) takes possession of goods on behalf of a Vendor (the consignor) for sale to Customers. Title passes directly from the Vendor to the Customer, and...more

Jones Day

To Have and to Hold: Third Circuit Rules That Physical Possession of Goods Is Required Under Section 503(b)(9) of the Bankruptcy...

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Since its enactment as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, section 503(b)(9) of the Bankruptcy Code has provided an important safety net for creditors selling goods to financially...more

Shumaker, Loop & Kendrick, LLP

When Worlds Collide: Article 2 of The Uniform Commercial Code and Chapter 11

Picture the scene: You have just received word that your customer has filed Chapter 11. You had followed my advice (see article Reducing a Customer’s Accounts Receivable in the Zone of Insolvency), and put the customer on a...more

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