ECV - No 1

ECV will have its first electronic settlement for a sale and purchase of a property in Victoria. This is a remarkable milestone. It is a first for an electronic financial settlement and registration.

David Rainbow, conveyancer, has created the first live ELF. David acts for the Purchaser. The Vendor has clear title and is represented by Gail Nancarrow. The lender is Bendigo Bank. Both conveyancers are fully subscribed members of EC.

As David said "the planets and the stars must have been aligned" to pull this one off. The odds were quite large given only Bendigo and Mecu are financial institution subscribers and a handful of legal / conveyancing subscribers are registered

I am told the settlement is due in April 2008.

Congrats