Insolvencies are on the increase:
- Would you prefer to be an unsecured or secured creditor if one of your customers collapses?
Turn on your security by complying with the PPSA:
- Most suppliers retain title over the goods they sell their customers
- Retention of title is a security
- Register your security on the PPSR or you can’t enforce it on your customer’s insolvency (just when you need it)
- Registration preserves your security
A simple example:
- You’ve delivered $8,000 of goods to your customer
- The customer collapses 3 days later with your goods still in their possession
- If you’ve registered your security (your retention of title) you can recover your goods or get paid for them
- If you haven’t registered your security you’ve lost your goods and will have to wait in line as an unsecured creditor
Cost of registration:
- A few dollars to protect every transaction you have with the customer for the next 7 years in Australia or 5 years in New Zealand (both may be extended when required)
What do you want to do?
- Join PPSR Cloud today and get started: Sign Up (no payment required during sign-up and you can cancel at any time)
