You need to secure your assets – quickly and accurately.
It’s important to be ranked first in priority sequence when you register your security. Limit your credit risk by becoming a Secured Creditor!
Personal Property Securities Act (PPSA) governs the registrations of securities which give secured creditors priority over unsecured creditors in their right to collect their assets in cases of default. But timing is important: you want to register your PPSA security as soon as you become a creditor! This will ensure that your assets are protected, and your business is protected with them!
ESC Corporate Services offers a national Personal Property and Security Act (PPSA) Search and PPSA Registration service. We conduct certified and uncertified searches under the Personal Property Security Act within each province and territory in Canada and Uniform Commercial Code Search and Registration services in most U.S. states. Within Ontario, ESC conducts certified and uncertified searches and PPSA registrations under the Personal Property Security Act and Repairs and Storage Liens Act. Our online service offers you full control of your own searches.
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A PPSA Registration is a registration made by a creditor against a debtor registering a lien on the moveable property. A PPSA Registration serves as notice to all third parties of the security interest held by the lender (secured party) against the borrower (debtor).
Registration (Initial): A PPSA Registration perfects the security interest held by the secured party. The registration will outline the debtor, secured party, length of agreement and further detail surrounding the property secured by way of agreement.
Amendment: A PPSA amendment is filed to correct an error or omission from the initial registration or to amend the registration in some other form.
Renewal: A PPSA renewal is filed to extend the existing registration before the registration ceases to be effective.
Discharge: A PPSA discharge is filed when all obligations under a security agreement have been performed and the creditor no longer holds a security interest against the borrower (debtor).