Why is using the PPSR important?
Conducting a search on the PPSR is good practice when you are purchasing expensive or valuable second hand goods. A check when buying items such as a car, boat or machinery you can find out whether there is any finance owing. This way you can help protect yourself from having the item repossessed by a finance company, should the previous owner have had a debt on it which they have failed to pay.
PPSR.com.au provides you with access to the Personal Property Security Register with a PPSR report from just $25.
Frequently Asked Questions
Where can I find the VIN?
The Vehicle Identification Number (VIN) can be found on the vehicle itself, or on the door posts (where the door latches when it is closed).
The vehicle's VIN is also displayed on the registration certificate and insurance policy documentation.
- How do I conduct a search on the PPSR?
- How do I conduct a REVS or PPSR check?
How do I register security interests on the PPSR?
To register security interests on the PPSR you first need a Secured Party Group number.To make the registration on the PPSR you will need the following information:
- secured party details
- collateral details
- grantor details (if applicable)
Do I need permission from my customer before placing a registration on the PPSR?
No, you do however need reasonable grounds. Reasonable grounds are assessed on the nature of your relationship with your customer. For example, if you offer the customer a credit account, sell goods to them on credit terms, then you have established reasonable grounds.
What is a HIN and where do I find it?
The Hull Identification Number (HIN), is a unique series of characters and numbers assigned to a vessel, similar to the chassis number (VIN) on motor vehicles.
It is usually moulded in the hull or engraved on a metal plate that is fastened the hull.