Commercial Finance

The Commercial Finance Committee covers a broad range of finance transactions, focusing on practical issues, new developments and industry practices. ComFin currently sponsors taskforces dealing with surveys of state laws applicable to finance transactions, intercreditor agreements and syndicated loans, deposit account control agreements, IP security interest agreements, UCC filing and searching issues and a dictionary of commercial finance terms. Many of our subcommittees focus on issues relevant to all finance transactions (secured lending, documentation, creditor's rights, loan workouts and lender liability, and cross-border aspects of finance transactions), while others focus on specific industries or types of collateral (agricultural and agri-business, aircraft, intellectual property, maritime, real estate, and trade financing) or transaction structures such as syndicated credits and first and second lien structures.

Please check below for more information about ComFin subcommittees, taskforces and projects, upcoming meetings and events of interest, and resources for ComFin committee members. You can join any subcommittee or taskforce on its webpage.

• UCC Article 9 Revisions. The Joint Review Committee for Uniform Commercial Code Article 9 held its initial meeting October 3 -5, 2008. The summary of issues being considered, supplemental materials and reports from that meeting are posted below under "Materials" and we'll update as additional information develops.
• Survey of Commercial Laws. A collection of state-specific summaries of laws applicable to commercial finance transactions - now availbale in book form.
• Commercial Finance Terms Taskforce (Joint with UCC Committee) - see the Taskforce website for more information.
• Deposit Account Control Agreements
  (Joint with Banking Law, Consumer Financial Services and UCC Committees) - see the Taskforce website for more information.
• Filing Office Operations and Search Logic Taskforce (Joint with UCC Committee). The Joint Taskforce on Filing Office Operations and Search Logic ("FOOSL") holds periodic conference calls on UCC filing and searching issues - see the Taskforce website for more information.
• Model Intercreditor Agreement Taskforce - see the Taskforce website for more information.
• Model IP Security Agreement Taskforce - visit http://www.abanet.org/dch/committee.cfm?com=CL190051
• ADR in Commercial Finance Transactions - see the Taskforce website for more information.
• UNICITRAL Secured Transactions Guide: IP as Collateral. The U.S. State Department has held several meetings and conference calls to discuss how the Guide treats IP as collateral.

  The UNCITRAL Secretariat is preparing a working paper on IP financing (WP 33) as part of the UNCITRAL Secured Transactions Guide process. Comments on the interim version of WP 33 have been submitted (comments from the International Trademark Association can be accessed by clicking here). The current draft of WP 33 can be accessed by clicking here. WP 33 will be replaced (updated) by WP 35 and WP 35/Add 1, which have been completed by the Secretariat and submitted for translation and should be posted on the UNCITRAL web site.

  Copies of additional relevant materials are posted below or can be obtained at: http://www.uncitral.org/uncitral/en/commission/working_groups/6Security_Interests.html
  http://www.uncitral.org/uncitral/en/commission/sessions/40th.html#second (some of the materials at the second link do not involve security rights (the term used to refer to security interests) and the relevant portions can be found by searching for security interests. The key posted documents are A/CN.9/637 and A/CN.9/632.)

  UNCITRAL - Intellectual Property Issues - Summary of January '08 Experts Meeting (updated May 6, 2008):
  MS Word | Adobe PDF

  Chapters of the Guide are now posted at http://www.uncitral.org/uncitral/en/uncitral_texts/payments/Guide_securedtrans.html
  A report on the Working Group's May 2008 meeting on preparation of an intellectual property annex to the Guide is linked below.
  MS Word | Adobe PDF

The State Department holds public meeting to discuss the UNCITRAL Secured Finance Guide and IP matters. Comments on the proposals may be sent by e-mail to Michael Dennis (DennisMJ@state.gov).

Newsletter and Meeting Agendas

Fall Committee Meeting 2009 Materials

Annual Meeting 2009 Materials

Spring Meeting 2009 Materials

Fall Committee Meeting 2008 Materials

Oct.3-5, 2008 UCC 9 Drafting Committee Meeting

Article 9 Revisions - ALI Materials Materials


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Websites of Interest

For information on some of our recent events please check here or see the Committee newsletters.
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Chair:  Lynn A Soukup

Vice-Chair:  Neal J Kling, James Schulwolf

Committee Roster (2145 total members)

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