Submit Your Details

Take the first step, complete the form below and we will be in touch to talk about options for you.

All information will be kept confidential.

This field is for validation purposes and should be left unchanged.

PPSR: When Should I Be Lodging A Registration?

2 Minute Read
Written by Paul Miller
01 October 2020

Once a liquidator is appointed to a debtor, they are allowed to ignore any security interests registered during the 6 months leading up to their appointment if they hadn’t been lodged within 20 business days of the security agreement being formed.

In a trade credit context, the security agreement is usually the completed credit application incorporating your Terms & Conditions (eg, your Retention of Title right).

Thus, if you fail to lodge your registration within 20 business days of receiving a credit limit application, you risk losing your security rights if a liquidator is appointed within the next 6 months.

If you miss the 20 business days deadline, you effectively have three choices:

  1. Apply for a court order to deem your registration to have been lodged in time;
  2. Have your customer accept a fresh, replacement agreement with you; or
  3. Cross your fingers and hope that your customer does not fall over within the next 6 months. 

Additionally, there are other timing requirements that come into play where the nature of your agreement with your customer forms a PMSI.

You may also be interested in…