Unfair preferences and unperfected security interests

Take the scenario where your company has supplied a customer with goods on credit.  The standard terms and conditions of supply grant your company security over the goods supplied until they are paid for.  In order for that security to be perfected, the interest granted needed to be registered on the Personal Property Security Register (PPSR).  If for example, the interest was not registered or if it was, it was invalid for technical reasons then your company may be at risk. [Read more…]

Importance of retention of title clauses in commercial contracts

What is a retention of title clause?

A retention of title (RoT) clause is typically contained within a sale agreement or a company’s standard terms of business (TOB), whereby another business has possession of certain goods (Collateral), but does not acquire the legal title until the purchase price is paid in full. [Read more…]

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