For decades JVC and JBT has been telling members conducting memo transactions that they should protect their goods in the event a customer files bankruptcy by filing a Uniform Commercial Code (UCC). Many jewelry businesses don’t take this step – often finding the process too cumbersome and expensive when lawyers get involved. That all changes with JBT’s new online UCC filing service with CLAS, available to all Enhanced Members.
In just minutes, a UCC can be filed electronically in 47 states, for less than half the fees charged by a lawyer. Members will have the option to file PMSI for a modest additional fee and will have access to an online portal to track status.
According to Erich Jacobs, JBT President “The current process for filing a UCC is too time-intensive and expensive. Our new program takes the pain and high cost out of the equation entirely which ultimately makes this a no-brainer for our members.”
Erich Jacobs: Jewelers Board of Trade, President
Chelsea Khaler: CLAS, Account Manager
Kacy Flowers: CLAS, Marketing Director
Sara Yood, Esq: JVC, Deputy General Counsel
View JBT and JVC’s recorded webinar about memo transactions: Conducting Business on Memo: Risks & Precautions with JBT & JVC on the Member Dashboard (members-only) here.