This report contains the preliminary proceedings of the third Dutch Model Checking Day, held on 7th November 2001 at the Technische Universiteit Eindhoven. Model checking is an automatic technique for verifying hardware and software systems. The advance of the research in this area in the past few years has lead to a significant improvement of the model checking tools. Successful applications of model checking have been reported in the verification of a wide variety of systems, like complex sequential circuit designs and communication protocols. An important evidence of the great practical potential of model checking is the development of in-house model checking tools within the major companies from the information and telecommunication industry. The objective of the Model Checking Day was to bring together researchers and practitioners from academia and industry who are interested in model checking. The presentations featured both practical and theoretical advances in the area. This includes new techniques and methodologies, as well as experience with their application in various areas, such as embedded systems, communication protocols, hardware components, production processes, etc. Besides this, the Model Checking Day provided an opportunity to exchange experiences, and to have discussions about new ideas and the latest developments in the area. This proceedings contains contributions related to the presentations on this day, details are given in the table of contents. The Model Checking Day received generous support from the Formal Methods Group of the Technische Universiteit Eindhoven and the research school IPA (Institute for Programming research and Algorithmics). At this point I would like to thank the members of the program committee Dragan Bosnacki (TU/e Computer Science), Leszek Holenderski (Philips Research) and Jeroen Voeten (TU/e Electrical Engineering), and the secretary Elize Russell (TU/e Computer Science) for all their work.