Acknowledgment of Payment of Promissory Note | Canada
This Acknowledgement of Payment form confirms that a promissory note has been paid in full.
- This form should be signed by the lender when the full amount of the loan has been paid.
- Available as a free downloadable MS Word document.
- This form is intended for use in Canada.
Alberta Collateral Mortgage and Promissory Note
Use this template Collateral Mortgage and Promissory Note for credit facilities in Alberta.
- A collateral mortgage can be used to secure a line of credit, a revolving loan, or other credit facility where the balance owing changes from time to time.
- The borrower is responsible for insuring, repairing, and maintaining the mortgaged property and for paying all taxes and assessments.
- The lender is appointed as the borrower's attorney (agent) for the purpose of recovering any insurance proceeds with respect to the property.
- The lender has power of attorney to sell, lease or encumber the property if the borrower defaults in its obligations.
- The full balance owing is immediately payable if the borrower sells the property or, if the borrower is a corporation, there is a change in control.
- This is a downloadable legal template in MS Word format.
- Intended for use in the Province of Alberta, Canada.
Canada Demand Note with Floating Interest Rate
Document a loan and protect your rights as a creditor in Canada with this easy-to-use Demand Promissory Note form which provides for floating interest rate.
- Interest is calculated based on the current prime lending rate of the lender's bank.
- The loan can be prepaid at any time without penalty or premium.
- The form can be easily filled in and printed for signature. Use it as many times as you like.
- This a Canadian legal form template that can be used in any part of the country. A French language version may be required for the Province of Quebec.
To get the Demand Note form, add it to your cart and go through the checkout. Once the transaction is processed, you'll be automatically directed to the download page to get your form.
Promissory Note for Interest Only | Canada
Purpose of Promissory Note for Interest Only
This Promissory Note template is designed to help secure the repayment of a loan made within Canada. It provides a clear framework for both lenders and borrowers regarding the repayment terms and expectations.
Interest-Only Payment Terms
Under this Note, the borrower is required to make payments that cover only the accrued interest on the loan. No payments toward the principal amount are necessary until the specific date outlined in the Note. This allows the borrower to manage cash flow by deferring principal repayments until a later time.
Schedule of Interest Payments
Interest payments are to be made in arrears, following a regular payment schedule as defined in the terms of the Note. This ensures that the lender receives compensation for the use of their funds over the period of the loan.
Principal Repayment and Prepayment
The principal sum of the loan may be repaid at any time chosen by the borrower, without incurring any penalty or additional fee. This flexibility benefits the borrower, allowing for early repayment if desired.
Format and Availability
This template is provided in Microsoft Word format, making it easy to edit and customize to suit the specific details of your transaction. Users are encouraged to modify the document as necessary to reflect the terms agreed upon by both parties.
Jurisdiction
This Promissory Note is intended exclusively for use in Canada.
Promissory Note with Monthly Payments, Compound Interest | Canada
Overview of Promissory Note with Monthly Payments and Compound Interest
Monthly Payment Structure
The Promissory Note sets up a schedule of regular monthly payments for the borrower. These payments consist of both principal and interest amounts, which are to be repaid in equal installments each month throughout the loan term.
Calculation and Compounding of Interest
Interest on the outstanding loan balance is calculated and compounded on a monthly basis. This means that interest accrues on both the principal and any previously accumulated interest, resulting in a compounding effect over time.
Late Payment Provisions
If any portion of the principal or interest is not paid by the due date, the overdue amount will continue to bear interest at the same rate as the remaining loan balance. This ensures that late payments are subject to the same terms as regular payments.
Jurisdiction and Use
This Promissory Note template is suitable for use throughout Canada, with the possible exception of Quebec where a different French-language form may be required. The form is available as a downloadable, editable, and reusable legal template to accommodate various lending arrangements.
Term Promissory Note | Canada
Overview of Canadian Term Promissory Note Template
This Term Promissory Note template is designed specifically for use within Canada. It provides a secure method for documenting the repayment of a loan and is suitable for individuals or businesses seeking a straightforward solution for loan agreements.
Repayment Structure
The Note permits the borrower to repay the loan amount through regular payments. Each payment consists of a blended portion of principal and interest, ensuring a consistent payment schedule throughout the loan period.
Interest Calculation
Interest on the outstanding loan balance is calculated monthly, and the total interest is compounded annually. This approach offers clarity in how interest accrues over the duration of the loan.
Format and Reusability
This template is a reusable legal form available in Microsoft Word format, allowing for easy editing and customization to meet specific needs. Once purchased, it can be downloaded and utilised as often as required, making it a convenient option for ongoing or future loan agreements.
Jurisdiction
This template is intended for use only in Canada and should not be used for loans outside Canadian jurisdiction.
Annual Corporate Resolutions | Canada
Prepare the Annual Resolutions of the shareholders and directors of a Canadian business corporation with this package of forms.
- In small privately held corporations, it is common to pass Resolutions instead of holding a formal annual meeting, to deal with all the business that must be covered in the corporation's annual meeting.
- This package is a convenient time-saver for corporate lawyers and paralegals. It contains the following template forms:
- Resolution of the directors appointing the corporate officers and approving the financial statements.
- Resolution of the voting shareholders approving the financials and electing the directors.
- Resolution of all of the shareholders appointing auditors or waiving the audit requirement.
- Cover letter to be sent by a law firm to its corporate clients, enclosing the forms and giving instructions to the client.
- This package of Canada Annual Resolutions Forms can be used for federal companies and in Alberta, British Columbia, Saskatchewan, Ontario, New Brunswick, Nunavut, Yukon and Northwest Territories. French language translation required for Quebec.
Loan and Charging Agreement | Canada
Canadian lenders can use this downloadable Loan and Charging Agreement to prepare loan documents for a borrower.
- The template includes both the Loan Agreement and a promissory note for the principal amount of the loan plus interest.
- The borrower agrees to register an encumbrance against title to real estate owned by the borrower, as collateral security for the loan.
- If the borrower defaults in repaying the loan, title to the property will be transferred to the lender.
- Available in MS Word format.
- Intended to be used only in Canada.
Directors Resolution to Change Registered Office | Canada
The directors of a Canadian corporation can change its registered office by passing this Directors Resolution.
- The corporation's Board of Directors resolves to change the registered office from its current location to a new location.
- The corporate secretary is authorized to file the appropriate form of Notice with the applicable registry.
- The template can be used by any Canadian corporation formed under a Business Corporations Act, either federally or provincially. English version not valid in Quebec.
- Available as a fully editable download in MS Word format.
- Intended to be used only within Canada.
