Statement of Work - UCC Continuations - 2AUG2024.pdf
Posted: Aug. 2, 2024
• Type: .pdf
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Summary
**Statement of Work (SOW)**
This statement of work outlines the responsibilities and tasks required for filing continuation statements under the Uniform Commercial Code (UCC) for COVID-19 Economic Injury Disaster Loans (EIDL) managed by the Small Business Administration (SBA).
The SBA has filed UCC financing statements on personal property for loans exceeding $25,000, necessitating continuation statements to maintain their effectiveness. The contractor is tasked with filing these continuation statements within six months prior to the five-year anniversary of the original filings, ensuring compliance with state regulations. As of June 7, 2024, there are approximately 2.12 million active loans in various categories requiring attention.
The scope of work includes several specific tasks:
- Conducting pre-filing checks against Secretary of State records to verify accuracy
- Filing UCC continuation statements
- Generating monthly reports detailing any rejections or inaccuracies encountered during the process
The contractor must also file new UCC1 financing statements as directed by the SBA and provide ad-hoc reports as needed. Deliverables include data files for pre-filing checks, monthly reports on inaccuracies and rejections, and records of filed continuation statements.
The contractor is expected to adhere to strict security protocols to protect government data throughout the contract duration.
This statement of work outlines the responsibilities and tasks required for filing continuation statements under the Uniform Commercial Code (UCC) for COVID-19 Economic Injury Disaster Loans (EIDL) managed by the Small Business Administration (SBA).
The SBA has filed UCC financing statements on personal property for loans exceeding $25,000, necessitating continuation statements to maintain their effectiveness. The contractor is tasked with filing these continuation statements within six months prior to the five-year anniversary of the original filings, ensuring compliance with state regulations. As of June 7, 2024, there are approximately 2.12 million active loans in various categories requiring attention.
The scope of work includes several specific tasks:
- Conducting pre-filing checks against Secretary of State records to verify accuracy
- Filing UCC continuation statements
- Generating monthly reports detailing any rejections or inaccuracies encountered during the process
The contractor must also file new UCC1 financing statements as directed by the SBA and provide ad-hoc reports as needed. Deliverables include data files for pre-filing checks, monthly reports on inaccuracies and rejections, and records of filed continuation statements.
The contractor is expected to adhere to strict security protocols to protect government data throughout the contract duration.
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