Kott Gunning is offering a PPSA health check service. A quick check now could mitigate your risk and save you thousands later.
The first hour of advice is free. Interested? Read on.
What is the PPSA?
The Personal Property Securities Act 2009 (PPSA) affects nearly every business in Australia. It regulates the giving and taking of security over many forms of property, other than land.
Does the PPSA affect my business?
Yes, if your business is involved in any of the following:
› sales on credit terms (retention of title);
› hire purchase; or
› providing finance.
What are the risks?
For example, assuming you sell goods on 30 day terms and your customer goes into administration/insolvency you would want to get your goods back. Prior to the PPSA you could.
Under the PPSA you will need to have registered a valid security interest in your goods to avoid losing your goods to a third party.
For more information contact Emma Leys.