finPOWER Security Register Add-On
The Securities Register Add-On provides all the necessary data fields to record information required to register a Financing Statement on the PPSR.
Client (Debtor) Details
The Client file includes essential PPSR information such as the full name, address, contact details and date of birth and Incorporation Number (if relevant).
Security (Financing) Statements
The Security Statement is the link between the Loan, Clients and Secured Item(s). Information is maintained on who and what the security statement is related to and forms the basis of the PPSR "Financing Statement".
The Financing Statement information contained within the Security Statement includes the Financing Statement Id and PIN, Registration Date and Expiry Date.
The PPSA requires that the Debtor receives a copy of the verification statement within 15 working days, unless they have waived their right to receive this. Where this is not waived finPOWER will generate an email or letter to be sent to the Debtor.
Registering Financing Statements
finPOWER will capture all the relevant details required to register a Financing Statement. It will also highlight missing or invalid information.
To register a Financing Statement you must key the information into the PPSR website or use the finPOWER PPSR G2B Add-On. To assist with manual data entry finPOWER includes a printed report for keying into the PPSR. This report is formatted in the same logical steps as the web interface and also includes notes on missing or invalid information.
The report has space to note the Financing Statement Id, PIN and Debtor PIN once the Financing has been successfully registered. This information can then be updated back into finPOWER.