Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Understanding the Personal Property Securities Act

By Tony Subscribe to RSS | June 30th 2012 | Views:
loading
 
  



The PPS Act was passed in December 2009 by the Federal Parliament and it has become fully operational starting on January 2012. This is an act that has gotten a lot of attention and is generally misunderstood. Many people are hesitant to get involved and get their interests registered because they feel like it is not something that will benefit them, but this simply is not the case. Understanding the act will give you an insight that you may not have had, and will help you understand the importance of the small amount of time that it actually takes to get your interests registered.

While the opinions of some may not suggest as much, the personal properties securities act are laws that have been created to introduce a single national system for the creation and determination of priorities and enforcement of security interests over personal property. Wondering if this is something that will affect your business in anyway? The short answer is yes. The idea is that the suppliers of all goods will register their personal interests in the goods that they are supplying their customers with. The process of registering your interests will help you protect yourself and your business in the instance that a customer defaults on payments or claims bankruptcy.

There are many benefits to registering your interests. For instance, you will be able to claim a special priority in the goods that you have supplied the customer with. This will allow you to take your goods back if they have not paid for and the customer is not able to pay for them. You can also claim a super priority over the goods over all other creditors, other registered secured parties and unregistered secured parties. Additionally you will be able to claim an interest even if the goods that have been supplied are attached to other goods. You'll also have the opportunity to trace the proceeds of the use or the sale of your goods in the process.

If you have decided that now is a good time to register for the personal property securities act, you should know that the sooner you register the better. There is no time limit as to when you can start and stop registering for the PPSR, but a business that has registered before yours will have a higher priority than yours does, so it's in your best interest to get your interests registered as soon as possible.

The process of registering is not difficult at all. There are several different software solutions and toolkits that will walk you through the entire process from understand what exactly the laws do and do not allow for and how to ensure that all of your information is inputted correctly to allow you to take full advantage of the registry. In the end the time that it takes to understand the act and get registered with it will be more than worth it if you ever need to call upon the protection of these laws. Like anything else, having a little bit of insurance and not needing it is better than needing it and not having it.

Tony - About Author:
Finding the personal property securities act confusing? Get the straight forward facts at pps solutions.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/understanding-the-personal-property-securities-act.htm

Related Business Articles Subscribe to RSS

A guide to storage solutions
Published by Mary Porter on June 20th 2012 | Business
It may sound obvious but you should remember that the choice of storage solutions depends on the pla...
 
Punch of one stop packing solutions and competitive price at Allahabad
Published by Kumari Ankita on January 4th 2012 | Business
Here you are at movers and packers Allahabad. You get dedicated support from us on the loading and u...
 
Waxing salons in San Diego for complete skincare solutions
Published by Cameron White on May 26th 2012 | Business
Traditionally, razor was used to remove all the unwanted hairs from the body and this procedure was ...
 
Cheap outsourcing solutions v/s quality outsourcing solutions
Published by Lisa Parker on February 6th 2012 | Business
Information technology has been growing tremendously and most of the companies focus on cost reducti...
 
Various protection in addition to securities
Published by Ema Sis on February 11th 2012 | Business
Security is crucial to determine in addition to sustain an experienced recommendations management. R...
 
Looking for packaging solutions Opt for 2 SIAT packaging machine suppliers in the UK
Published by Holman on July 3rd 2012 | Business
Are you looking for new packaging machinery?
Holmes Mann provides a range of SIAT packaging mach...
 
Perth Air Conditioning- cooling solutions to save you from the burning heat
Published by Customisedair on May 9th 2012 | Business
Looking to soothe your burning skin in the scorching summer heat?? Finding it difficult to tolerate ...
 
Find intelligent, dependable solutions for offshore container equipment
Published by Sherman Barber on May 2nd 2012 | Business
If you own or are part of a business that needs to move goods from port to port, then you want shipp...
 
Locksmith Brooklyn gives motor vehicle solutions
Published by Run Locksmith on November 30th 2011 | Business
Locksmith Brooklyn can be more challenging when compared with you would imagine. Yet again, any indi...
 
The Box offers comprehensive commercial storage solutions
Published by Harry Ben on January 13th 2012 | Business
A commercial storage solution is the best answer to Abu Dhabi’s increasing space problem as it pro...
 
Do you require Scaffolding Bristol solutions?
Published by Angie Turner on June 19th 2012 | Business
Scaffolding is a useful device for reaching areas at height and carrying out construction work safel...
 
Starting the importance pertaining to exceptional world wide web solutions
Published by Sarah Jesse on August 20th 2012 | Business
There has been a lot of talk about the different kinds of web facilities that can certainly help a p...
 
Instant solutions by criminal attorney nashville
Published by Formojohni on December 13th 2011 | Business
When we talk about insolvent problems, criminal attorney nashville has one of the highest rates for ...
 
Do you require Fleet Servicing solutions?
Published by Mary Porter on June 18th 2012 | Business
There are plenty of fleet servicing options to choose from, and the right fleet servicing provider w...
 
Healthcare Design can provide you with healthcare marketing solutions paramount for communication
Published by Julia Roger on December 1st 2011 | Business
Healthcare Design is a UK-based healthcare design agency specialising in a full range of healthcare ...
 
The best packers and movers company with all kinds of solutions
Published by Kumari Ankita on January 2nd 2012 | Business
Welcome for unparallel shifting services. All of us give support on the loading and unloading servic...
 
Nestabilities crafts are just some of the solutions that Craft at Home can offer
Published by Mary Porter on June 16th 2012 | Business
Whether you’re looking for a reputable retailer of nestabilities, heat guns and whole manner of cr...
 
Housekeeping solutions for households and businesses
Published by Jarred Luke on April 21st 2012 | Business
Many businesses are now looking for help with the essential process of housekeeping and getting hygi...
 
No cost purposes for ones Apple mackintosh solutions
Published by John Culvers on July 14th 2012 | Business
While using have to have to get ideal purposes for ones mp3 player, it might truly always be a good ...
 
IT solutions, IT Project Management and Software development
Published by RnD Consulting on January 3rd 2012 | Business
R&D Consulting Ltd offers professional bespoke IT Solutions. Their IT Consultants are qualified, hig...