How to keep an eye on your debtors and competitors

Did you know that there are free tools available which allow you to monitor the corporate and security activities of companies?

Using ASIC’s Company Alerts and the PPS Register’s alert notification service, you can keep an eye on changes that occur with your debtors, competitors and service providers.

Company Alerts

ASIC provides a Company Alert service which will notify you via email when documents are lodged for a particular company.

The Alert will tell you the type of document that has been lodged and the date of lodgement. From this you will be able to infer a number of things, e.g.:

  • If there has been a change to the status of a company, for example:
  • A receiver, liquidator or external administrator has been appointed;
  • An application for winding up the company has been lodged; or
  • An application for deregistration of the company has been lodged;
  • If there has been a change in the directors or shareholders of a company; and
  • If share buyback documentation has been lodged.

You can set up 5 profiles per email address and each profile can monitor up to 25 companies.

Company Alerts can be set up via the ASIC website.

Monitoring Security Interests

Before the Personal Property Securities Act 2009 (the PPSA) came into place, a Company Alert would also provide an alert if a charge was registered over the assets of the company.  However, now that the PPSA applies, a security over the personal property of a company is notified on the Personal Property Securities Register (PPS Register) and is no longer the responsibility of ASIC.

The PPS Register also has an alert notification service, under which you can be notified when there is a new registration or an amendment (including a discharge) for an organisational grantor (i.e. a party that is described by an ACN, ARBN or Australian Registered Scheme Number).  Therefore, this alert system covers more than just companies and includes partnerships, trusts, managed investment schemes, etc.

As is the case for the Company Alerts, an email is sent to a nominated email address when a security interest is registered or amended.  There is no fee for the alert notifications service.

The PPS Register alert notification service are available on the PPS Register.

How to use these tools

These tools are particularly useful to monitor your debtors.  For example, a change of directors or the registration of a security interest over all of your debtor’s assets may influence how much credit you provide in the future.

These are not the only tools that can assist you in managing the risk of extending credit.   A comprehensive set of Trading Terms & Conditions can protect your dealings with your customers, so that you can set out when you expect to be paid (and charge interest if you are not paid on time) and agree to take security in the goods you supply.

Who can help?

We can.

There are many more benefits of using Trading Terms & Conditions – read more about these here or contact us on 1300 654 590 to get yours in place.

Enhanced by Zemanta

Our Great Lawyer Guarantee

We want to be part of your team over the long term. We'll achieve this by sticking closely to the following principles:

  • We'll listen carefully to understand what you want to achieve. Then we'll thoroughly explain our advice and step you through the documents. You can be sure you'll know the full consequences.
  • Our lawyers work as a team, so someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.
  • One of our key goals is to pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.
  • We only do what we're good at. You can be confident that we know what we're doing and won't pass on the cost of our learning.
  • For advice and documents, we provide a fixed or capped quote so you don’t take price risk. If you're in a dispute, we'll map out the process and costs so you know what to expect.
  • We're not in this game for our egos. We're in it for a front row seat to witness your success

We measure our success on how efficiently we have facilitated your objectives, enhanced your relationships, and reduced the level of stress for all involved.

If we sound like people you can work with, call us now on 1300 654 590 and speak directly with a great lawyer.

Call 1300 654 590 and speak with a lawyer

You’ll be put straight through to a great lawyer who will guide you to the right solution.

The first actions you need to take if you have been appointed to manage your family’s charitable foundation or a Private Ancillary Fund

The first actions you need to take if you have been appointed to manage your family’s charitable foundation or a Private Ancillary Fund

If you have been newly appointed to manage a Private Ancillary Fund, you may feel overwhelmed or unsure what you need to do first. You do not want to get bogged down in administration when real objective is to make a positive impact on your community. We have put together a simple list of the first actions you need to take to make sure you start on the right foot.

read more