The Personal Property Security Act (PPSA) provides a comprehensive set of rules to govern the rights of creditors and debtors when personal property is used as collateral to secure the payment of a debt. Proper registration of collateral under PPSA is a critical step in the credit granting process.
‘Perfection’ is the process of certifying those security interests in a personal property registry (PPR), with online registration being the most common method. Since PPSA is not federally regulated, each province and territory has its own rules, regulations and personal property registry (PPR) system.
Equifax has partnered with AVS Systems Inc., a pioneer of automated PPSA solutions in Canada, to offer PPSA Connect. PPSA Connect provides a single interface to the disparate Canadian registries enabling online lien management services such as registrations, notifications, renewals and discharges. System-to-system connectivity allows for near real time response on individual submissions or batch processing.
Equifax is a trusted provider of consumer and commercial credit risk assessment and account management solutions. With PPSA Connect, Equifax provides a solution that bridges the adjudication and ongoing account management processes from a single solution provider.
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