UCC Article 9

US law governing security interests in personal property including financial assets. Creditor must 'perfect' via UCC-1 financing statement. 5-year term; must be continued within 6-month window before expiry; debtor name must exactly match state-registered legal name.

Perfection

Steps required to make a security interest enforceable against third parties. US: UCC-1 filing; UK: registration at Companies House within 21 days of creation; different regimes for different asset types.

Double Pledging

The fraudulent assignment or pledging of the same asset as collateral to two or more separate lenders simultaneously. Most common in commodity finance, accounts receivable, and automotive lending; requires real-time IVA/deduplication to prevent.