SiiP is Access PPSR's full service PPSR Portfolio Management System. It gives users visibility across all registrations and enables them to execute all PPSR tasks quickly, correctly and effectively.
SiiP allows users to process and manage their portfolio of registrations from creation (using pre-programmed registration profiles and grantor and collateral validation) through to renewal and discharge.
Click on 'Our Solutions' to see SiiP in action and details of its features.
The new legislation altered registration requirements for financiers and introduced the need to register for suppliers of goods sold on credit terms, subject to Retention of Title ("ROT"), and businesses that hire, rent or even lend assets / equipment to customers or third parties.
The PPSA presents huge risks for some businesses and provides valuable recovery opportunities, that weren't available before, for others. Access PPSR helps businesses understand how the PPSA affects them and how best to protect themselves (for hires) and how to take advantage of the enhanced rights available to them when they supply goods on credit terms subject to ROT.
Our expertise lies in putting in place the necessary strategies (and PPS registration profiles) to achieve the desired level of protection whilst minimising cost, business disruption and labour resources.
PPSR management using SiiP is effortless. It will help to reduce or eliminate registration errors, minimise the time taken to process registrations, alleviate the burden of registration on company staff and provide continuity if employees leave your business.
SIIP is also capable of bulk transaction uploads and exportable reporting downloads.
PPSR portfolios are visible through a unique, dynamically driven dashboard giving users an 'at a glance' appreciation of registration numbers and types, collateral classes, grantor types. The dashboard also provides an extremely useful snapshots of registrations due to expire.
Many of the registrations processed on day one were for 7 years and so they will expire on 30 January 2019 and continuously thereafter. In the circumstances that a security interest continues to exist beyond registration expiry, there is a requirement to renew that registration prior to the expiry date to achieve ‘continuous perfection’ and the highest PPSA priority.
We can take care of your Renewals project if you supply us with details of the registrations requiring renewal and which ones you wish to allow to expire.
Compliance Review with Renewals
Not surprisingly, given the new regime and its complexity, we have found that many of the registrations on PPSR are incorrect most commonly in terms of registration profile (ticking the correct boxes) and grantor (customer) identification.
Our focus is on ensuring that our clients’ registrations are sound so that you are able to enforce your PPSA rights effectively when the time comes.
At Access PPSR, we see your Renewals Project as an opportunity to ensure the completeness and validity of your registrations portfolio before you go to the expense of renewing. We can perform a registration analysis and report our findings before processing correction and renewal transactions. We have taken a sensible approach to your renewals project with the aim being to achieve a portfolio of useful PPSA registrations which achieve the highest PPSA priority in the most economic way.
Our renewals project focuses on categorising your registrations into four groups:-
Renew – for those needed post expiry
Expire – for those not needed post expiry
Correct* and extend – for those found to be incorrect in some way
New – for registration not performed at all that should have been
* PPSR may not allow all required corrections. We can assist in navigating what can and cannot be amended and offer alternative solutions where amendments needed are prohibited.
The output is a comprehensive report (and analysed dataset) detailing the recommended action and transaction processing costs. Clients have very little to do. Access PPSR takes care of everything. The project is finalised following the delivery of a transactions processed file to the client.
Of course, clients do not have to take advantage of this Compliance Review service to process renewals through Access PPSR. It is optional. We can process renewals transactions upon instruction from you without analysing your registration portfolio.
There can be numerous reasons for this including:-
• Poor initial advice
• Inconsistency in processing registrations
• Lack of staff understanding or knowledge
• Staff turnover and knowledge handover failure
We can analyse your registration portfolio and provide you with a report (and analysed dataset) outlining which registrations comply with your approved registration profiles and grantor identification rules and which do not.
Lynne Walton has provided a PPSR Analysis and Compliance Reviews to three major Australian banks and one large finance company so clients can be confident in a first class service.
As with the Renewals project (outlined above), the output is a comprehensive report (and analysed dataset) detailing the recommended action and transaction processing costs.
Your security interest and your ability to enforce your PPSA rights are dependent upon the quality of your Terms and Conditions. We can assess these and provide a detailed report on which aspects may be deficient and suggest improvements as required.
The introduction of PPSA has rendered this protection mechanism ineffective thereby placing assets at risk of seizure. To address this and reinstate the protection, a suitable operating lease between the entities and appropriate registrations on PPSR are required.
Access PPSR offers this service as a package.
• where a business is being sold, we can assist with providing evidence that the business assets are free of encumbrances
• where an asset is being purchased, sold or financed we can assist in demonstrating that it is free of security
In line with our unparalleled reputation for PPSA knowledge, you will have a free direct line to our specialist PPSA advisors with any legal, insolvency or other query you may have. Most of these can be answered immediately without the need for formal 'Time in Line' services.
We normally perform this work on a ‘No Win, No Fee’ basis. All cases are considered and priced on the merits / strength of the claim.
We can assist with any PPSA or PPSR related issue. Contact us for help.