Cesar, the online equipment provenance check for the industrial and agricultural sectors, set up by vehicle information provider HPI, and security company Datatag, has opened up for general use by the asset finance industry.
The scheme was first launched in April for a "test and learn phase" and open to a select number of finance companies.
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Cesar, which stands for Construction & Agricultural Equipment Security and Registration scheme, aims to make it easier for potential buyers of stolen equipment, or those at risk of buying or selling machines still subject to finance, to avoid the dangers to their business.
According to HPI and Datatag, approximately 4,000 construction and agricultural machines are stolen every year in the UK with a total value of £150m (178m) and overall equipment theft costs £650m a year.
Paul Jennings, managing director of JCB Finance, said: "As the largest owner of JCB machines in the world JCB Finance is vulnerable to both theft and fraud that impacts on our many legitimate customers. We are delighted to see this new scheme, which we have lobbied for, come to fruition."
The scheme uses HPI’s online Cesar platform to search an existing database of vehicles and equipment based upon information such as vehicle identification number or registration plate. The user is then presented with a web-based report on the history of the equipment.
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By GlobalDataEach check will cost the user £29.99 excluding VAT.
