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Register on the PPSR

It is critical to register on the PPSR.  The Personal Property Security Register or the PPSR.  The PPSR is covered by the Personal Property Security Act or PPSA.  Firstly, it is essential that you become a secured creditor with any company that you are dealing with. If things turn bad, as a secured creditor you are a lot more protected.  Secondly, you need to become secured to have a chance at getting your money back should the client go into liquidation or voluntary administration.
Moreover, you are also protected against preferential payments by being a secured creditor. Even the ATO is not a secured creditor.  Therefor you are in front of their claim IF you are a secured creditor on the PPSR.
Finally, if you are not secured, preferential payments may be clawed back for 6 months of payments to you prior to the liquidator taking control.

#PPSR  #PPSA #Securedcreditor 

 

 

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