What must be included in a UCC-1 Financing Statement?

A UCC-1 Financing Statement serves as a public record that allows secured creditors to establish their priority against other creditors regarding the collateral provided by a debtor. One of the fundamental elements that must be included in a UCC-1 Financing Statement is the name of the secured creditor.

The secured creditor's name is crucial because it identifies who holds the security interest in the collateral. This ensures that potential creditors and the public can ascertain who has rights to the collateral in question, thus facilitating transparency in secured transactions. Properly identifying the secured party helps in determining priority among competing claims against the same collateral in case of default or bankruptcy.

Other components, such as the debtor's social security number and the location of the collateral, while important, do not take precedence over identifying the secured party when it comes to the essential requirements of a UCC-1. Also, the date of the agreement, although it may provide context and information about the timing of the security interest, is not a required element in the UCC-1 itself. Hence, the necessity of including the secured creditor's name makes it the correct choice for this question.