EDA Welcomes Lance Formwalt for Webinar on Managing UCC Risks in Retail Financing Transactions

For immediate release

ST. LOUIS, MO (July 18, 2019) – The Equipment Dealers Association, in conjunction with the Far West, Iowa-Nebraska, Midwest-Southeastern, and United Equipment Dealers Associations, is excited to announce a FREE webinar for EDA members called Dealer Beware: Managing UCC Risks to Limit Chargebacks When Customers Don’t Pay. This webinar will be hosted by Lance Formwalt, shareholder in the Equipment Dealer Group at Kansas City based Seigfreid Bingham.

Dealers are often actively engaged in the process of providing financing options for their customers.  Although many customer financing options are labeled as “non-recourse” to the dealer, dealers are often surprised when a retail finance lender assesses a chargeback down the road after a customer can’t pay the lender.  Unfortunately, this situation happens fairly frequently and tends to increase when customers are facing tough economic times.  In these circumstances, dealer exposure is often the result of not following the correct procedures to help ensure that a UCC financing statement is filed to give the lender a first priority security interest in the financed equipment.

Please join us for this timely webinar to hear Lance explain these issues and educate us on steps dealers can take to help reduce risk on future transactions.

Date: Tuesday, August 6th
Time: 12:00pm (noon), central
Register Now!

There will be time for Q&A with Lance following the presentation.

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About Equipment Dealers Association

Founded in 1900, the Equipment Dealers Association (EDA), is a non-profit trade organization representing retail equipment dealers in North America that are extensively engaged in the sale and service of agricultural, construction, industrial, forestry, outdoor power, lawn and garden, and/or turf equipment. EDA provides essential value to its members by enhancing the dealer-manufacturer relationship and advocating for a positive legislative and regulatory environment. EDA is headquartered in St. Louis, MO and is affiliated with regional associations located throughout the United States and Canada.

 

Contact: Alex Hoffman

(636) 349-6214

ahoffman@equipmentdealer.org