With the Personal Property Securities Register (PPSR)
If your business extends payment terms for your customers, there has never been a more important time to understand your rights and to protect and secure your goods (or debts) that haven’t been paid for. You can take the first step to prevent debt and protect your business by using the Personal Property Securities Register (PPSR) to protect your assets, as well as your debts.
Optimum Recoveries recently hosted a free webinar with Lynne Walton from Access PPSR to demystify the PPSR and learn how to use it to give your business the best chance of getting your security back if one of your customers doesn’t pay. During this webinar we helped business owners learn what the PPSR is and why it’s important for businesses who want to protect their interests and get the most out of their business’s capabilities.
It’s important to note that the PPSR and retention of title clauses, as well as sometimes the right to access an area clause, need to be in your business’s foundation documents. These will need to be part of the conditions of trade that the parties agree to be bound by.
Protect Your Business From Unfair Preference Claims
One key takeaway from this webinar is that you can actually use the PPSR to protect your business from unfair preference claims. There’s a lot of concern around unfair preference claims and how creditors can protect themselves from these claims, and registering your interests on the PPSR is a solution.
It costs just $6 to submit a registration to the PPSR and this registration lasts for 7 years, which comes down to less than $1 per year. This is one registration per customer, so you can do this for all of your customers.
In the webinar, Lynne Walton talks about how she has previously helped a client save more than $6 million a year using these $6 registrations. This client used to get more than $6 million of unfair preference claims every year, so they decided that the best way to protect their business from more claims was to register on the PPSR. They registered all 13,000 of their customers on the PPSR and have never had an unfair preference claim since.
It’s important to understand your rights, and know how you can protect your business and avoid debt and other financial liabilities. You can take the first step to prevent debt and protect your business by using the PPSR and learning how to best use its tools and get the most out of your business. The $6 registration really is a no-brainer investment to protect your assets.
Find Out More About the PPSR Today
To learn more about how the PPSR can help protect your business, you can watch a free 60-minute recording of our “Demystifying the Personal Property Securities Register (PPSR)” webinar below:
If you aren’t sure if you are covered or don’t know how to set up the registration process, Optimum Recoveries can help you with a complimentary review. Our legal team can help you write your terms and conditions, and with Lynne we can help you to make this process hassle free and secure for only $6, it’s a no-brainer.