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Security interest in personal property
The Personal Property Securities Register (PPSR) governs the creation, enforcement and priority of security interests in personal property. Find out what it entails.
Tuesday, 07th June 2022
Retention money is funds withheld (either by the client from a builder, or a builder from a sub-contractor) as security for completing works as agreed. WA’s retention trust scheme (as part of the SOP Act) mandates that this money be held in trust, and controls how this money is managed.
A retention money clause can be added to standard building contracts as a special condition or may be included in client-drafted agreements. If the clause is in there, you may be covered by the scheme. So, it’s important to understand how retention money must be handled under WA law.
Get a fast understanding of the retention trust scheme in this informative and easy-to-read resource.
A retention money clause can be added to standard building contracts as a special condition or may be included in client-drafted agreements. If the clause is in there, you may be covered by the scheme. So, it’s important to understand how retention money must be handled under WA law.
Get a fast understanding of the retention trust scheme in this informative and easy-to-read resource.
Access this resource now
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Who is it for?
Building Professionals
This resource is designed for builders and industry professionals who have an interest in registering a security interest.
What does it include?
- What personal property is
- What security interest is
- The Personal Property Securities Register (PPSR)
- How to register
- What can’t be registered on the PPSR.