Ontario Purchase Money Security Agreement

Protect your creditor rights with this Purchase Money Security Agreement for Ontario suppliers.

• The contract is made pursuant to provincial Personal Property Security Act legislation.
• The parties to the Agreement are a customer (debtor) and a supplier (secured party).
• The supplier extends credit to the debtor for the purchase of goods under a specific purchase order.
• In return for the credit, the debtor grants the supplier a first, fixed, specific purchase money security interest in the goods and in the proceeds therefrom.