Registering business security interest to the Personal Property Securities Register (PPSR) is an integral part of any risk management strategy. Equally important is having the procedures in place to ensure that these registrations are renewed before they are due to expire.
The PPSR first commenced in January 2012, therefore for many businesses the time may be fast approaching for a renewal to be put in place if one has not already been completed.
Over the sevens years since the original registration, it is likely that changes have occurred which will require businesses to make amendments to registrations. New clients and contracts may have been signed, plant and equipment may have been upgraded and employees involved in the original registration may have since left the organisation.
Data integrity is essential to the validity of the PPS registrations and must accurately reflect current details of suppliers, contractors and customer along with an accurate reflection of the terms that are being agreed between the parties.
If you would like to discuss registration or renewal requirements for the PPSR please do not hesitate to contact Tactica Partners on 9387 5637.