PEXA is a workspace platform that replaces physical settlements in the CBD. Documents are imaged to record land dealings and directly remitted to the Titles Office. It replaces physical lodgement of documents in the Titles Office for registration of dealings. The settlement proceeds are remitted electronically. Buyers and sellers can opt in or opt out for a PEXA settlement. There is a fee charged to buyers and sellers for the use of the platform. The fee at present is $90.00. There is no benefit to buyers or sellers. It benefits the banks. There are risks involved and they are outlined in our first letters. Selling agents are on board with writing on contracts that buyers and sellers agree to a PEXA settlement. The parties can still agree not to partake in a PEXA settlement irrespective of the condition on the contract. Whilst we have had COVID 19 restrictions there is some benefit for being able to do a settlement via PEXA because there is no physical settlement and therefore work attendances are not required. We are authorised and have the appropriate licences and authorities to perform PEXA settlements.