British Columbia Purchase Money Security Agreement
When you sell inventory on credit to a distributor, make sure you protect your security interest in those goods until you're paid in full under this Purchase Money Security Agreement for BC.
- The contract attaches a purchase money security interest (PMSI) to the goods being sold, which then become collateral under the Agreement.
- The supplier (secured party) extends credit to the customer (debtor) for the purchase of the inventory, and the debtor agrees to pay the purchase amount in a series of instalment payments.
- In return for being allowed to pay over time, the debtor grants the secured party a PMSI over the goods and over the proceeds that will be realized from the goods.
To get your copy of the British Columbia Purchase Money Security Agreement, just add it to your shopping cart, purchase it through our secure checkout, then download and customize for your business.
Last Updated: 14-April-2016