Ontario Offer to Purchase Business Assets
Write an offer to purchase the assets, inventory and supplies of an Ontario business with this downloadable template.
- Once accepted by the seller, the Offer to Purchase becomes a binding agreement of purchase and sale between the parties.
- The offer is conditional upon the purchaser receiving financing sufficient for the transaction.
- The purchaser will take over the lease on the business premises and assume certain liabilities.
- The purchaser is responsible for paying HST on the transaction.
- The purchaser will pay the value of current inventory and supplies on hand as of the closing date, valued at lower of cost and net realizable value, as determined by the parties after conducting a physical inventory.
- The parties will cooperate in obtaining any third party consents required to complete the transaction.
- The parties will jointly file an election under section 167 of the Excise Tax Act.
You don't need to hire a lawyer to write an Offer to Purchase Business Assets for you. Buy this template and you can easily do it yourself.
Last Updated: 14-February-2021