Asset Purchase Agreement | Canada

Negotiate the purchase of a Canadian business with this Letter of Intent to Purchase Assets of Business template for Canada.

• A letter of intent is not a legal contract, except for certain provisions such as confidentiality clauses which prohibit either party from disclosing any confidential information belonging to the othe rparty.
• The buyer is offering to purchase all of the assets and goodwill of the business from the seller.
• If the parties fail to execute a formal Purchase & Sale Agreement within a specified number of days, the letter of intent will expire.
• If the seller fails to go through with the transaction for no reason, the seller agrees to pay the buyer's costs and a specified amount as liquidated damages.
• This template LOI can be used in any Canadian province or territory.

A signed letter of intent signals to other interested parties that you're already in negotiations to buy the business. Download the template and get it in writing now.

Use this template to prepare a Surrender of Commercial Lease for a business or retail lease in Canada.

• The parties agree that the tenant will surrender the premises and the lease will be cancelled and terminated as of a specified date.
• The tenant will pay the landlord a specified amount to terminate the lease, and will forfeit all security and damage deposits paid to the landlord.
• Both the landlord and the tenant agree to honour their obligations until the date of surrender.
• The tenant will remove its trade fixtures and specified leasehold improvements (if possible).

Have you decided to buy an established business in Ontario? You can write up your offer to purchase the assets and shares of the company with this downloadable template.

• The offer is for the assets (excluding cash on hand and receivables) and the shares, but not the debt obligations of the company.
• Upon being accepted, the offer automatically becomes a legally binding purchase and sale agreement.
• The buyer will not assume any of the business liabilities except for the premises lease, maintenance contracts and salaries of employees that will be kept on after the closing.
• The parties agree to review and make any adjustments to the purchase price six months after closing.
• It is the seller's responsibility to terminate employees, prepare financial statements, file the final income tax return and pay corporate taxes as of the closing date.

Writing an offer to purchase can be easier than you think, if you start with this Ontario Offer to Purchase Business Assets & Shares. Buy it, download it, and get started right away.