Glossary
Welcome to SFNet's Secured Finance Glossary of industry terms. Currently the SFNet Glossary has over 400 industry terms and definitions. You can search specific terms in the search tool above, or use the alpha tool below and progress on the paginations.
UCC Filing 
A UCC-1 is a “financing statement” filed to provide notice that a creditor has a security interest in a debtor’s personal property. It is not an agreement. It is just notice to the world that one person claims an interest in someone else's property, usually as collateral for a debt.
UCC Search
The UCC Section provides public notice that a security agreement (the document that grants the security interest) exists between a specific debtor and creditor (called a secured party) and describes the collateral involved.
Unbilled A/R
Unbilled A/R is an Asset account on the balance sheet that represents amounts recognized as revenue for which invoices have not yet been sent. This can occur when you invoice in arrears or have any delay in billing relative to the revenue recognition trigger date.
Uncollectible A/R
Uncollectible accounts receivable is used to describe the portion of credit sales in accounts receivable the company does not expect to collect from a customer. Unfortunately, not all customers that make purchases on credit will pay companies the money owed.
Underwriting
Underwriting refers to the structured process used by financial service companies, such as banks, investors, or insurers, to determine and price the risk from a potential client.
Uniform Commercial Code (UCC)
The Uniform Commercial Code (UCC) is a uniform act promulgated to harmonize the law of sales, business dealings and other commercial transactions within each of the 50 U.S. states.
Uniform Standards of Professional Appraisal Practice (USPAP)
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP represents the generally accepted and recognized standards of appraisal practice.
Unitranche
Unitranche debt is a type of debt that combines senior and subordinated debt into one debt instrument; it is usually used to facilitate a leveraged buyout. The borrower would pay one interest rate to one lender, and the rate would usually fall between the rate for senior debt and subordinated notes.