Within PPRS, a Notice to Secured Party is a system-generated report sent to every secured party listed in a registration when the registration is amended, discharged or re-registered.
The Notice to Secured Party includes the registration family history and all registration details at the time of the amendment, discharge or re-registration, including identification of the registrant. This provides the secured party with the opportunity to correct an accidental, incorrect or fraudulent registration change.
The Notice to Secured Party is sent as follows:
If a secured party listed in the registration has Send NSP by email checkbox checked, a Notice to Secured Party is sent to the email address provided.
If a secured party listed in the registration was entered via the use of a secured party number or the "Same as Registrant" facility, the Notice to Secured Party will be sent electronically to the secured party number administrator. An exception to this rule is that if the secured party number has been made inactive (see help for ACOL CSC Update), the Notice to Secured Party will be sent either by email, if that delivery option was chosen, or by surface mail to the name and address listed in the registration.
If a secured party listed in the registration was entered, without using a secured party number, by typing the name, address and contact information, and if the email delivery option was not chosen, the Notice to Secured Party will be sent by surface mail to the name and address listed in the registration.