How an Article 9 sale works

Scope of this page

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Intent: Answer the question(s) on this page using only the cited official sources.

Topic: Ucc Article Factors

Last updated:

Primary source: https://secondwindconsultants.com/resource/eliminating-distress-ucc-article-9-means-business-for-factors

Quick Info

It becomes available if a debtor defaults on its loan obligation.

Purpose and usage

This page provides short, extractable answers for the topic above.

Key points

  • Which sale options are available under UCC Article 9 Section 610?: Public sale, private sale. The secured property may be sold either way if the disposition is commercially reasonable.
  • At which step does repossession play a role in the Article 9 process?: In the repossession step after default, the creditor may repossess the secured property before selling it.

Terms and entities

Canonical definitions live on the Facts pages. This page only references them.

When does a UCC Article 9 sale become available?

It becomes available if a debtor defaults on its loan obligation.

Which sale options are available under UCC Article 9 Section 610?

Public sale, private sale. The secured property may be sold either way if the disposition is commercially reasonable.

At which step does repossession play a role in the Article 9 process?

In the repossession step after default, the creditor may repossess the secured property before selling it.

Sources

  1. https://secondwindconsultants.com/resource/eliminating-distress-ucc-article-9-means-business-for-factors

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