Pre-Release Information Session: Personal Property Securities Register System

This is a pre-release notice only. Further details in relation to this Request for Tender will be provided at the pre-release information session on 1 December 2017 (see below) and formally distributed via AusTender in early 2018. Prospective tenderers are advised that the Commonwealth of Australia, as represented by the Australian Financial Security Authority (AFSA), currently anticipates that in or around Q1 2018 it will release an open market request for tenders for the selection of a preferred Tenderer for the provision of support, enhancement and maintenance services for the Personal Property Securities Register (PPSR). AFSA manages the PPSR, a single register of security interests in personal property in Australia or that is owned by an Australian entity. The PPSR is an important risk management and economic enablement tool within the Australian economy. The long-term success of the PPSR requires AFSA to ensure it remains highly accessible, usable and efficient. One of the key responsibilities of AFSA was to establish and maintain the PPSR and ensure that it remains operational. AFSA established an online register of securities, accessible 24 hours a day via a Web UI and a large number of business-to-government (B2G) service providers in 2012. The PPSR provides a single, controlled point for recording important financial interest information used by millions of Australians to investigate the ownership of assets prior to purchase, or to record their security interest in an existing asset. Given the size of the personal and business lending market in Australia – estimated to be around $500 billion a year – it is essential that AFSA carefully considers investment options to ensure the PPSR operates efficiently and effectively to support the personal and business lending market. International experience illustrates that failure to adequately invest in underlying technology and enhancements ultimately undermines the value of a secured transaction regime. In recognition of the importance of the PPSR to the Australian economy, AFSA is committed to making sure the PPSR remains a cost effective, highly available, adaptable, scalable and secure system into the future. AFSA is also committed to maintaining a competitive model that continues to encourage investment by a wide range of B2G clients in tools that promote use of the PPSR as an economic enablement and risk management tool. AFSA is seeking to select and engage a service provider for the provision of the services with AFSA’s required goals as follows: increased and more efficient operability increased efficiency in maintenance and support increased efficiency and agility in enhancements increase value for money from the spending of public monies.

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