CLR - RLC Registration Services - Security Registrations under the PPSA Act
General Security Agreement ( GSA ) - Purchase Money Security Interest ( PMSI ) - Personal Property Registration ( PPSA )
Canada Legal Referral and Reference Legal - Canada Ltee provides security registration services across Canada and into the United States. These registration services provided by CLR - RLC paralegal representatives either in our Toronto or Montreal offices allow for clients to completely outsource their registration needs to Canada Legal Referral. All PPSA registrations put interested parties on notice that the secured party has a legal interest in the collateral description secured and provides the client securing thier interest additional leverage in the collection of outstanding monies. All CLR - RLC registration services provide the client the following process to ensure their registration adheres to the legislation and is monitored for the duration of the the registration.
- The interest is registered in the province(s) in which the CLR - RLC client is conducting business adhering to the statutory process; defining collateral description(s) , length of time and product description.
- Reporting letters ar provided to all CLR - RLC clients that include government confirmation of the registered documents inclusive of collateral descriptions.
- The service maintains communication with the CLR -RLC clients insuring necessary amendments are addressed throughout the life of the registration
- The registration provides CLR -RLC clients with a pro active notification email to ensure renewal dates are maintained and or for the discharge of th security registration.
* All Canad Legal Referral - Reference Legale -Canada Ltee registrations are electronically archived and available to CLR RLC clients upon request.
Canada Legal Referral has become an industry leader in the implementation and development of security registrations and related products. When it comes to collecting on debts, a properly done registration can be your most powerful collection tool. Security Registrations allow the creditor the right to sell assets of the debtor to repay the debt. Not only that, but they give the creditor the first right to do so. A PPSA Registration serves as notice to all third parties of the security interest held in place by the lender (secured party) against the borrower (debtor)
The following Registration services are available and easily accessible to our clients:
- Initial Registration – This online document contains details of the secured party, the debtor, the length of agreement as well as details of the property being secure
- Amendments – This allows a simple change to the initial registration without effecting the priority ranking established by the initial registration
- Renewals – This allows the initial registration to be extended prior to its expiry.
- Discharges – This is filed when the obligations under the security agreement have been fulfilled and the creditor no longer holds an interest in the secured property