THE PERSONAL PROPERTY SECURITY REGISTER

The Personal Property Security Register (PPSR) is an important system based on the Personal Property Securities Act. 

It allows for the registration of security interests in personal property, such as goods and materials, to protect against non-payment and in case of liquidation. 

How does it work?

Let's look at a scenario: If I’m a scaffolder with a scaffold on a building site or a digger operator and my digger is going to be on-site for more than six months, completing a PPSR protects my ownership of those goods and materials.

If the construction company goes into liquidation, the liquidator has the power to take whatever is on site regardless of whether or not it’s owned by the company in financial trouble. 

Having completed the right kind of PPSR registration ensures that you’re a secured creditor if liquidation was to occur meaning you are in the best position to get paid and recover goods and materials from a site.

Protect your property and your income

In a nut-shell - if 100 sub contactors or service providers are owed money, and ten of them have the right kind of PPSR registration this means those ten people with a secured interest are at the head of the line for payment ahead of those ninety unsecured parties. 

 Proudly partnering with EC Credit Control , leaders in best practice credit management.