PPSA & PPSR
Has your business taken the important steps to update its Terms and Conditions of Trade to take advantage of the Personal Property Securities Act (PPSA)? Have you registered your chattels on the PPSR?
The PPSA is the biggest piece of financial legislation to impact on business owners since the introduction of the GST and has been in place now since January 2012. Yet it, and the role of the PPSR, is still largely misunderstood or unheard of throughout the business community. While the legislation impacts on different businesses in many different ways the main message that any business must remember is “it allows you to become a secured creditor!”
The PPSA is critical to your business.
Simply ask yourself any of the following:
• How much money have I lost to companies that have gone into liquidation?
• How much money have my friends or business contacts lost as a result of a liquidation?
• Do I do work for companies in the construction industry? If so, how much can I afford to lose?
If any of the above questions registered a reaction from you, PPSA can help in a significant way. And with the 2 year transitional period for PPSA drawing to a close you need to act!
1.To ensure your current Terms and Conditions of Trade are up to date with the PPSA and other important legislation simply give us a call and we will ensure your current documents are reviewed free of charge.
2. The review will reveal just how strong your current Terms and Conditions of Trade documents really are.
3. Once your documentation is confirmed as up to date you will be able to utilise the PPSA to ensure you are a secured creditor and your business is therefore protected.
In the current economic environment your business can’t afford to leave this important tool in the toolbox.