TER is offering used equipment buyers a fast check on the origin of their purchase.
Buyers of used equipment can now check online whether it’s registered as stolen or on finance before parting with their hard-earned cash thanks to new developments at TER (The National Plant and Equipment Register), which operates Europe’s largest database of owned and stolen plant and equipment.
With TER’s new quick and cost-effective online Check, potential purchasers simply log onto TER’s website and enter the make, model and serial number of the item they are proposing to buy. Within seconds, they get a report showing whether the item has been registered as stolen or if there is outstanding finance. If the item has nothing registered against it, the buyer can then print his or her own TER Check Certificate directly from the system as evidence of due diligence.
“You wouldn’t buy a second hand car without checking it wasn’t stolen or on hire purchase yet every day buyers of used plant and equipment spend tens and sometimes hundreds of thousands of pounds on kit that may have been stolen,” says Tim Purbrick, Manager of TER. “With more than £1M of equipment being stolen every week in the UK alone the reasons for doing a TER Check before you buy used equipment are clear.”
Allowing demolition contractors, rental companies, auction houses, dealers, individuals, insurers and banks to check the status of plant and equipment before they buy it, auction it, insure it or finance it, the new online service is designed to provide peace of mind. It could also prevent customers from losing substantial amounts of money.
