Ted Vlahos, Director at Pointon Partners, writes about managing settlement risk in high-volume, off-the-plan transactions in the current property development market. This article was recently published on page 6 in Marshall White’s newsletter.
Pointon Partners have been proud supporters of Harness Racing Australia and its Victorian branch for several years, and have acted on its behalf in areas of Sports Administration Law. On Saturday, 25th March 2017, the ‘Pointon Partners Pace’ Harness Racing Event was held at Melton and streamed live throughout Australia, France and Europe. An exciting evening was experienced by all who attended with a reasonably fast track adding to the ‘Pace’ of the race!
The Industry has strong connections for country Victorians and horse racing enthusiasts and offers an affordable and engaging way for people to be involved in what is both a pass-time and a profession. The new HRV CEO, David Martin was even seen driving a cart that night (not in our race!)
To see what’s coming up and the extensive racing program visit http://www.harness.org.au/
Over the coming fortnight, the Melbourne Food and Wine Festival is to launch into its 25st Year and as always capture the imagination of the Australian and International press with a wonderful display of Melbourne’s finest restaurants and produce.
Over the course of this time, Pointon Partners have enjoyed a long – standing relationship with the Festival in the form of Anthony Pointon’s role as a Director and Head of Corporate Governance. As a Firm, Pointon Partners continues as the Festival’s official legal representatives.
This year, Melbourne’s famous Lygon Street will be the host of the ‘Worlds Longest Lunch’ with a table of 1500 people celebrating all that is good about the Italian community, Melbourne’s cultural diversity and no doubt the recent Ferrari win in the Australian Formula One.
Red’s the color!
If you have not already done so, please check out the Melbourne Festival Program via this link and secure tickets for yourself and your friends. http://www.melbournefoodandwine.com.au/program
To coincide with International Women’s Day 2017, Banks Group hosted a luncheon in celebration of inspirational women and in support of ASRC (Asylum Resource Centre). ASRC is a not for profit organisation, whose programs support and empower people seeking asylum to maximise their own physical, mental and social wellbeing. It is run by a group of dedicated volunteers and supporters.
Pointon Partners along with their invited guests and others had the pleasure of attending the function and proudly contributed to the $5,000 donation gifted to the ASRC. The crowd were treated to an informative and thought provoking speech by Maxine McKew who is best known for her respected career traversing journalism and politics. For many years she was the anchor of ABC’s prestigious 7.30 Report and Lateline. When she left journalism and made the switch to politics, she wrote herself into the Australian history books by defeating Prime Minister John Howard in the Sydney seat of Bennelong.
Maxine’s speech touched on many issues and noted that whilst Australian businesses have come some way to embracing gender equality in the workplace the statistics indicate that there is still quite some way to go.
Michael is a long term member of the Law Institute’s, Employment Law Committee and Amelita is a long term member of the Law Institute’s, Sexual Discrimination Law Committee.
Pointon Partners has launched a new electronic contract signing and exchange platform for its property developer clients that significantly simplifies and speeds up the contract exchange process, and saves them money as well.
According to Pointon Partners’ director in charge of property, Ted Vlahos:
“Our new electronic contract signing and exchange platform is an innovative alternative to a 20th century way of doing things. It has been developed in consultation with our developer clients, as well as their sales teams and financiers, to ensure that it represents a superior, practical and bankable alternative to current signing and exchange processes, which are older, slower and more expensive”.
Despite significant leaps in technology in recent years and the introduction of laws that permit contracts to be signed electronically, law firms and conveyancers continue to adopt the old fashioned contract signing and exchange method.
That method involves printing out and binding hard copies of contracts and section 32 statements comprising hundreds of pages and posting or couriering contracts in an exchange process that takes up to weeks to complete in some cases. This makes closing sales and achieving financial close all the more difficult.
Pointon Partners’ new platform changes all that.
By partnering up with DocuSign, the world leader in secure electronic signature technology, Pointon Partners now allows its developer clients, their sales agents and purchasers to:
This can all be done in, theoretically, a matter of minutes. It is not necessary to print a single document or arrange for physical delivery or exchange of documents.
What are the benefits of the Pointon Partners’ platform for property developer clients?
Eliminates printing/postage/courier costs (which can equate to tens of thousands of dollars or more per project) on sales signed up via the platform. There is no need to print and bind enormous contracts and section 32 statements and arrange for posting/couriering to relevant parties every time a sale occurs.
Speeds up the contract exchange process
Reduces the lead times involved in the contract exchange process, which can be the difference between whether or not a sale is closed. The contract can be sent out and exchanged within minutes, rather than days or weeks via hard copy exchange (especially when foreign buyers are involved).
Minimises errors in contract completion and signing
Minimises errors with the way the contract is completed or signed which can affect the validity of the contract. This is because the platform does not allow the contract to be submitted unless all compulsory fields have been completed and all relevant pages have been signed. Only certain sections of the contract as determined by the vendor/developer can be filled out or changed by the purchaser.
Advanced monitoring of contract exchange process
Access at any time, through the platform, to the status of the contract exchange process. For example, at any point in time the vendor/developer will be able to determine exactly how many contracts have been sent out, when a purchaser has viewed the contract, signed it and how far along the work flow chain it is. No more contracts lost in transit.
More secure than physical exchange
Verification checks and digital signature tracking that is incorporated into the platform for security and identification purposes.
New way to market and differentiate themselves in marketplace
Allows vendor/developers to leverage off the platform to market themselves to purchasers as innovative, tech savvy, user friendly, environmentally conscious and facilitate sales more efficiently.
If you are interested in learning more about Pointon Partners’ new electronic contract signing and exchange platform, or if you would like a free demo on how it works, then please contact Ted Vlahos or your contact at Pointon Partners on 03 9614 7707, or email us at email@example.com
At the recent LAWorld Conference held in Ji Nan City in China on 18th November 2016, Pointon Partners’ Managing Director, Anthony Pointon organised and chaired the Conference. The main topic for discussion was “outbound investment from China” and this was presented as a component of the important One-Belt, One-Road 一带一路 initiative. Representatives from Government departments, industry associations, business organisations and enterprises from Australia, United States of America, China and other countries were respected attendees and presenters and provided risk prevention advice for Chinese enterprises looking to invest internationally.
On the 14th September 2016, we celebrated our 20 year of business at the National Gallery of Victoria with around 250 of our closest friends and family.
It was a wonderful night of celebration, entertainment, fun and good company.
For those who could attend we were very pleased to see you. For those that could not, we look forward to working with you in the future and seeing you socially where the opportunity arises.
We thank you for your contribution in our success to date and look forward to continuing to support you when you need legal expertise.
Growing from Anthony Pointon’s wish to create a firm dedicated to the legal needs of businesses and business stakeholders, Pointon Partners Lawyers has a dedicated and growing team of more than 40 staff, providing specialised legal advice in all areas of law relevant to business and across many industries.
Reflecting the importance of building long-term relationships with businesses and their people, we are proud that many clients have grown as we have over the past two decades. Pointon Partners Lawyers is also proud to offer services from startup ventures to listed ASX companies.
For more information on Pointon Partners Lawyers’ first 20 years of providing quality legal solutions, view our 20-year milestone brochure, or catch up with any of our team members at PEOPLE
Please view our 20-year milestone brochure by following this LINK
Significant factual issues arise from the Timbercorp Almond Project 2007 in addition to general concerns and defences Pointon Partners Lawyers have raised in respect of all Timbercorp projects. If you have been involved in this arrangement or another Timbercorp arrangement, we are happy to act on your behalf. Our clients benefit from defences not currently raised by other Lawyers and also cost savings compared to other legal representation.
If interested in discussing please contact us:
565 Bourke Street Melbourne
03 9614 7707
565 Bourke Street Melbourne
03 9614 7707
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