A financial security helps protect your business from unnecessary risk
The Personal Property Securities Register (PPSR) is a national register where security interests in personal property can be registered and searched. If you’re a business that rents, leases or sells goods under terms, you need to have your interests in those goods protected by registering on the PPSR.
Personal property can include goods, plant and equipment, cars, boats, planes, crops, livestock, art, licenses, shares, accounts receivable, contract rights and intellectual property.
Customers defaulting on their payments or becoming insolvent are real, everyday risks that can quickly dry up your cash flow, leaving you at risk of going bust yourself. In the event of a business failing, it is possible you could lose any property provided to a debtor if your interest in that property has not been registered on the PPSR; this includes goods provided on consignment or credit. For businesses lending equipment as part of leases and trade term agreements, failure to register that property on the PPSR may also be costly.
Equifax’s PPSR Solution
We understand that securing your financial interests on the PPSR can be time consuming. Equifax’s PPSR solution enables to you easily search, register, renew and manage you interests within the Equifax subscriber portal.
A managed end-to-end solution
Your PPSR needs can be many and varied. Our web solution gives you an efficient and effective method of managing these needs. You can:
- complete your PPSR registrations drawing the data from your credit enquiries to ensure your debtor details are registered with accuracy.
- achieve time and cost efficiencies with the ability to batch register your Financing Statements with a single file.
- get the full picture of a debtor/vehicle’s encumbrance with easy to use search functions.
- manage the full lifecycle of your interests with Equifax: register, amend, discharge and renew with ease.
Should I subscribe to the PPSR solution?
We recommend considering the following:
- How many bad debts have you suffered in the past 12 months, two years or even five years?
- Have you ever encountered and incorrectly registered a financial interest? A recent investigation by Equifax found a debtor detail error rate of 1.1%
- How much time and effort do you spend on the management of your PPSR needs?
- Is your database up to the task? When registering interests on the PPSR, the information must be current and accurate.