Sandy has a fleet of bobcats she hires out all over town.
Sandy knows about the Australian Government’s PPSR – she knows of other hire businesses who’ve lost expensive equipment while out on longer term hire because they didn’t make a $6 PPSR registration.
For any new customers that are signing a longer term hire contract (more than two years), or if she thinks there’s a chance it might run for two years or longer, Sandy backs up the lease agreement with a PPSR registration.
Sandy also keeps a close eye on any bobcats that have been out on site for a while. As soon as she thinks there’s a chance the hire might tick over the 2 year mark, she makes a PPSR registration.
Registration costs $6 per customer, but she knows it gives her extra legal protection to seize her bobcats if her customer ends up going bust. A PPSR registration helps ensure Sandy is ahead of other creditors – even her customer’s bank.