After you apply for financing with PEAC Solutions, we prepare documents and send them to you to complete. These documents are specific to the terms of your contract. We use the information and documents you provide to use during the documentation process to verify your identity and billing contact information, plus proof of insurance, and/or tax requirements as needed.
A Uniform Commercial Code-1 (UCC-1) financing statement is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor. (A “debtor” is a person who owes a debt to the creditor as typically specified in the agreement creating the debt.)
You’ll use this letter as a checklist to make sure you are providing all the documentation we’ll need to release your funds to you.
PEAC Solutions does not charge an application fee. We may charge a documentation fee to compensate us for processing the documents and to reimburse us for the fees incurred with filing UCC-1 financing statements. When applicable by law, taxes may be applied to this fee.