Canadian franchisees, sell the assets of a franchise business to a new franchisee with this Asset Purchase Agreement. Provisions of the Agreement include:

• The purchaser will purchase the assets of the business, including inventory, parts and any equity the vendor has in the leased equipment.


• The purchaser will assume the responsibilities of a franchisee under the main Franchise Agreement with the franchisor.


• The purchaser is not obligated to assume or perform any obligation of the vendor except for the equipment leases which the purchaser has accepted prior to closing.


• The purchaser will assume the premises lease from the vendor.


• Purchase price for inventory is cost less depreciation, and for parts is actual cost.

This Canada Asset Purchase Agreement for Franchise is provided in MS Word format and is fully editable to meet your needs.