When interests are added to our registers you provide the start date and term of the agreement, this enables us to calculate when the record is due to expire. If you have not removed the interest by this date it automatically enters a period of grace. Note the timescales below, after which time it will be automatically deleted from our register.
• Finance Interests delete 6 months past term
• Security Interests delete 1 month past term
If you require the interest to remain on the register beyond its initial term, you can extend it using the AMEND function under the registrations menu.
For our Prime Agency customers using our asset monitoring tools POTENTIAL DELETION notifications are raised after 5 months for finance interests and 1 month for security interests to give you a warning, before the interest is time deleted, to allow you to extend the agreement if necessary.
None prime customers can opt in to receiving an emailed report of time deletions. If you require this facility please contact the Data Manager or your Account Manager.