What is the PPSR?
The PPSA (Personal Property Securities Act 2009) is a vital component of doing business in Australia. A business lists its security interests on the PPSR (Personal Property Securities Register).
The PPSR is necessary for anyone who supplies goods to other businesses on credit terms; leases, rents or hires out goods; or accepts personal property as security for outstanding debt.
The importance of using the PPSR
The PPSA protects your financial interest in goods if the debtor goes into administration or liquidation. You will not have to compete with unsecured creditors.
If you don’t register, and the debtor goes into administration, often your collateral will form part of the assets to be managed under the administrator, and it is nearly impossible to claim anything at all.
What is PPSRLogic?
CreditorWatch offers PPSRLogic: a simpler, faster and cheaper way to manage your PPS registrations.
PPSRLogic helps ensure your registrations are accurate, because one wrong detail could void your protection. CreditorWatch's Portfolio Health Check can ensure your information is correct.