A verification statement is a document that confirms the registration or amendment of a financing statement. It contains important information, including the debtor PIN.
When a financing statement is registered, or updated, a verification statement is sent to all members of the secured party group, as well as the registering party or the person making the change.
It’s essential that you keep a secure copy of the verification statement. If you misplace it, however, you can request a replacement copy via our website by accessing your financing statement and selecting ‘Request a Copy of the Verification Statement’.
Keeping the debtor informed
Secured parties are required to supply debtors with a copy of the verification statement within 15 working days of registration or the amendment of a financing statement, unless the debtor waives, in writing, the right to receive one.
The debtor will need the debtor PIN if they wish to request, via the PPSR, the discharge or amendment of the financing statement. This is referred to as a ‘change demand’.
The debtor, or another person with an interest in the collateral, may request the debtor PIN from the secured party, or from us.