Many business owners do not realise that when they supply goods or services to customers and provide a timeframe for payment of those goods or services (for example 30 days) – they are actually offering credit.
Like any business offering credit it is important to secure your position as best you can and one excellent way to do that is via a registration on the Personal Property Securities Register (PPSR). A PPSR registration can not only assist to get an invoice paid but can facilitate getting the goods back if the customer does not pay.
A tax invoice or supply contract that contains PPSR provisions, together with an effective PPSR registration, can put you ahead of other creditors in getting paid.
A PPSR registration costs as little as $6 per customer and can even cover the supply of goods or services to a customer into the future.
Our commercial law team have extensive experience in drafting invoice and supply contract terms and conditions that permit you to register a PPSR registration and we can even assist with completing the PPSR registration itself.
Related Tag: Property Lawyers Newcastle