A proactive Newcastle construction contractor registered his interest in a client on the PPSR (Personal Property Security Register). When that client, also based in the Newcastle and Hunter region, went into liquidation the contractor was listed as a secured creditor. As a result the contractor is in line to recover all his money before unsecured creditors, will not be subject to preferential payment claw back and will also rank above the ATO.
Insolvency statistics show that winding up orders and liquidations have increased in Newcastle and the Hunter over the last 12 months.
Legally binding Terms of Trade, PPSR registration and sound credit management practices including proactive Debt Recovery and thorough Credit Checking is required to protect your business and its cash flow.
We can help your business be in a strong position should a client not pay you or even go into liquidation through the following services:
- Terms of Trade packages
- Commercial Contracts
- Residential Contracts
- PPSR Registration and advice
- Equifax Checking and Monitoring
- Subcontractor Agreements
- Chattel Lease
- Credit Management advice
- Debt Collection
Contact us for a no obligation initial review of your current Terms of Trade documentation and Credit Management procedures.