Farming Monthly National October 2017 | Page 36

| Buildings The Equipment Register (TER) is Europe’s largest managed database of theft and ownership records for used Plant and Agricultural equipment, providing a specialist online service for due diligence since 1995. We work closely with many sectors within the industry, ranging from members of the public, dealerships, auction houses and law enforcement to not only safeguard reputation but also help reduce financial loss. Without carrying out vital due diligence this can make unwitting buyers and sellers vulnerable to substantial financial loss. It is government policy in virtually every country to reduce the ability of criminals to sell stolen items by encouraging due diligence searching by buyers, finance houses/lenders, dealers, auction houses, insurers, and other parties. It helps reduce theft as criminals find they cannot sell stolen goods at or for much less than market price which becomes a clear indicator. TER offers the public the opportunity to carry out proper due diligence checks that are essential to safeguard buyers, sellers and owners against criminal An example of this is TER’s monthly onsite presence at activity. Cheffins machinery auction. Cheffins, who host the The cost of a TER check is negligible compared to the world’s largest monthly plant and agricultural sale, cost of the machinery, inconvenience, financial and carry out scrupulous checks to ensure that the firm reputational damage that can occur if stolen does not deal in stolen goods. equipment is purchased without checking. To help strengthen these checks, TER are present at TER is offering readers of Farming Monthly a 15% the monthly auctions, checking all lots against their reduction on the regular cost of the check until the database, substantially reducing the chance of a sale 31st of January 2018. Simply enter the promotional of stolen goods. code FARM2017 before you check out of the payment The market for second-hand machinery is particularly section. vulnerable to fraud and theft. In 2016 alone 2,996 stolen items of stolen machinery were reported. Check equipment, get valuations, register items, get security advice, report theft and improve the chance of recovery. 36 | Farming Monthly | October 2017 www.farmingmonthly.co.uk