Use secured party numbers
Secured party numbers are an optional feature within ACOL PPRS that have the following benefits:
- improve the accuracy of the data in your registrations
- help you manage a large number of registrations for the same secured party
- enable you to receive Notice to Secured Party reports electronically
About secured party numbers:
- A secured party number is a record issued to an ACOL PPRS client to represent a secured party's name, address, telephone, and email address.
- A secured party number is specific to the province or territory Registry where it is created.
- When you use a secured party number, PPRS will look up the secured party number information from the database in order to populate the name and contact information fields.
- The Global Change of Registered Interest function will only change secured party records that were created using secured party numbers. This powerful functions allows you to update hundreds or thousands of registrations in a single action. Global Change serves two purposes:
- Update out-of-date secured party name or contact information to new, current information.
- Replace one secured party with a different secured party. For example, to reassign (transfer) a set of property interests between parties.
- To help you find secured party numbers that were created by your client account, use the List Available Secured Party Numbers button on the Secured Party Information screen.
- Not everyone can create and update a secured party number. The user must be assigned the Secured Party Number Administrator access privilege.
- Only the Secured Party Number Administrator who created the secured party number is authorized to update the secured party number record's name, address, telephone, and email address.
- If you need to reassign the Secured Party Number Administrator, or if you need to activate or deactivate a secured party number, use the PPR Amend Secured Party Administrator User ID form.
- Any registrant, including from any client account, can view secured party number information and use a secured party number in a registration. To clarify: the same secured party number can be used by registrants from different client accounts.
- IMPORTANT: Using a secured party number in a registration will affect the way that Notice to Secured Party reports are delivered to the secured party.
About Notice to Secured Party reports and use of secured party numbers:
- 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 selected the "Send NSP by Email" checkbox, the 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 available to the secured party number administrator through Retrieve Reports. 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.
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