Resource Guide to PPSR Grantor Identification Rules
PPSR grantor identification is a complicated but critical aspect of registering a security interest on the PPSR. Access Intell’s PPSR product automates this task ensure you register in accordance with the PPSA regulations every time. For those still struggling with processing manually or using another PPSR processing provider that doesn’t validate grantors, Access Intell has put together a comprehensive guide to selecting the correct PPSR grantor identifier.
what is a PPSR Grantor?
The Personal Property Securities Act 2009 (“PPSA”) and the Personal Property Securities Register (“PPSR”) provides a comprehensive regulatory framework to govern arrangements where one party (normally a supplier or financier) takes security over supplied goods or an asset that is in a customer’s possession. Inmost cases this is to secure payment. Under the PPSA, this type of transaction is defined as a ‘security interest’. Under the act the supplier is termed the ‘secured party’ and the customer is called the ‘grantor’.
Why is it important to correctly identify a PPSR Grantor?
To have an effective and enforceable security interest it is imperative your customer (or Grantor) is correctly identified when performing your PPSR registration. Failure to comply with the rules will, in most cases, invalidate your registration. The details required are specified in the PPS Regulations. The Access Intell resource guide simplifies the rules to assist in properly identifying Grantors and is effective in the majority of cases.
Accurate, automated registrations with Access PPSR
Access PPSR is our automated product that simplifies the complexity of PPSR registrations. One-click registrations are right every time with our pre-set profiles and built-in validation tools (including for grantors). This ensures your security is correct and enforceable as a priority.
Case Study: Expired PPSR registration leads to catastrophic $3 million financial loss
PPSR is increasingly important as insolvency rates rise. The Access Intell team are seeing businesses without registrations, with incorrect registrations, or that aren’t on top of renewals become unsecured and suffer catastrophic losses when their customers become insolvent. One such example is ‘Master Manufacturing’, a pseudonym to protect the confidentiality of this business and their insolvent customer. They learnt an expensive lesson on the importance of PPSR and agreed to share their story as a cautionary tale.
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