Establishing a UCC Contract Trust - Creditor Academy Course 3- (Patrick Devine Course Materials)

Introduction

This tutorial provides a step-by-step guide on establishing a UCC Contract Trust based on insights from the Creditor Academy's course. It covers the foundational concepts of the Treasury banking system, the processes involved in setting up a UCC Contract Trust, and practical advice for navigating this complex area. This guide is designed to empower individuals with the knowledge necessary to take control of their financial affairs and utilize the UCC for personal benefit.

Step 1: Understand the Treasury Banking System

• Familiarize yourself with the Basis of the Treasury Banking Structure as outlined by Patrick Devine.
• Recognize that the UCC Contract Trust is integral to operating within this system.
• Understand the roles of key players, including the Secretary of the Treasury and IRS officials.

Step 2: Gather Necessary Documentation

• Collect the following documents:
  • Your Certificate of Live Birth.
  • Social Security Number (SSN).
  • Marriage Certificate, DD214, or any relevant identification.
• Ensure you have the required forms:
  • SF 30 - Modification of Contract.
  • SF 1414 - Consent of Surety.
  • SF 1416 - Payment Bond.
  • SF 1418 - Performance Bond.

Step 3: Prepare Your UCC Contract Trust

• Complete your UCC-1 Financing Statement to establish the trust.
• File your UCC documents with the appropriate state authority to secure your position as the trustee.
• Retain copies of all filings and receipts for your records.

Step 4: Manage Your Bills and Payments

• When you receive a bill (e.g., from a utility company), identify the account number associated with your UCC Contract Trust.
• Endorse the bill on the back as a foreign commercial bill of credit.
• Use the Bills of Credit endorsement to acknowledge the bill, specifying the amount that needs to be settled.
• Example endorsement:

  Acknowledged as a foreign commercial bill of credit for the monetary obligation of [insert amount].
  Endorsed and returned for set off against the UCC Contract Trust account number [insert account number].
  

Step 5: Submit Your Documentation

• Compile your documents, including:
  • The endorsed bill.
  • Your non-UCC registration.
  • The SF forms (SF 30, 1414, 1416, 1418).
  • Any identification showing your authority.
• Mail these documents via certified or registered mail to the relevant authority (e.g., utility company, IRS).

Step 6: Follow Up on Your Submission

• Track your submissions using the certified mail receipts.
• If you do not receive a response within 15 calendar days, consider the transaction as acknowledged.
• Be prepared to escalate your efforts if necessary, by contacting the appropriate treasury or regulatory body.

Conclusion

Establishing a UCC Contract Trust requires a solid understanding of the Treasury banking system and careful preparation of documentation. By following these steps, you can take charge of your financial obligations and utilize the UCC framework to your advantage. Remember to keep all records organized and maintain communication with relevant authorities to ensure your efforts are recognized and processed effectively. As you move forward, feel free to seek additional resources or support to enhance your understanding and execution of these processes.