This allows you to register your financial interest in a vehicle on the PPS Register.

You must have created a Secured Party Group and provided the access code to Ultimate Business Systems in order to manage Registrations from your Eclipse software.

If you see this note on the New Registration tab, then your account is not configured to allow management of PPSR Registrations.
Please Contact Ultimate Business Systems for assistance.

 

Why Register my interest in a vehicle?

The new rules that are most likely to affect small and medium enterprises (SMEs) are those relating to retention of title business practices.

Under PPS reform, businesses can no longer rely solely on retaining title to their goods to reclaim them if they supply to customers who become insolvent or bankrupt – they need to register on the PPS Register.

Under the Personal Property Securities Act 2009 (Cth), the supplier can register their interest on the PPS Register in order to protect that interest, and their right to repossess the goods, if the customer failed to pay.

For continuous supply of goods situations, the supplier needs only to register once for each customer – not for every supply.

What do I need to know in order to register?

  1. You need the serial number of the goods to be registered. Serial Number is PPSR speak for VIN, HIN or Chassis Number.
  2. You need to determine if this is a Purchase Monies Security Interest (PMSI). A PMSI registration benefits from a higher priority. You can view the PMSI fact sheet to determine if you should create your registration as a PMSI.  
  3. If the grantor is a company or business, then you should register the interest as Commercial, and supply the ABN or ACN.

Processing New PPSR Registration (registering an encumbrance)

  1. Make sure you are in the 'New Registration' tab.
  2. There are 2 ways to register an interest on a vehicle:
    You can either register an encumbrance on a vehicle you have in stock by clicking the "Select from Stock" button.

    Or if you do not have the vehicle in stock you can register an encumbrance by using the accurate VIN, CHASS or HIN number of a vehicle.
  3. The next section 'Collateral Type' is for you to select who the encumbrance will be linked to. (Consumer = private & Commercial = company) 
    If the goods in this registration relate to a Consumer (private), leave 'Consumer' ticked. Note: make sure you have selected the first tick box if finance has been provided at the point of sale.
     
  4. If the goods in this registration relate to a Commercial client (company), tick 'Commercial' & you must select the grantor. (a grantor is a company, individual or other entity that grants a security interest over personal property to another party).
  5. The last section is PPSR Registration Details.
    This is where you select the PPSR Registration expiry date & give a notice identifier.
  6. Once all the information has been completed click the 'Submit Registration' button.