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    Ontario Offer to Purchase Restaurant Assets

    $29.99

    You can easily write an offer to buy the assets and property of a restaurant with this downloadable template Offer to Purchase for the Province of Ontario.

    • The offer becomes a legally binding agreement of purchase and sale once it has been accepted by the seller.
    • On closing, the buyer will pay the seller the value of liquor, food and beverages on hand, valued at either cost or net realizable value, whichever is lower.
    • The buyer is not required to purchase inventory older than two months or inventory which is unsaleable or unusable.
    • The buyer is responsible for remitting the GST applicable to the sale. The buyer will also pay retail sales tax on the purchased assets.
    • The seller will give the buyer reasonable access to the premises, books and records of the business to enable the buyer to conduct its due diligence investigation.
    • The agreement contains the standard representations and warranties of each party.
    • The seller agrees not to carry on or be involved with a competing business within an agreed proximity to the restaurant, and will not solicit customers or employees from the business.
    • The Offer to Purchase form is intended for use within the Province of Ontario, Canada.
    Download Type: Microsoft Word
    SKU: 8352
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    Ontario Schedule to Asset Purchase Agreement for Restaurant

    $29.99

    Attach this Schedule to an Asset Purchase Agreement for the assets of a restaurant business in the Province of Ontario.

    • The seller must comply with the requirements of the Ontario Bulk Sales Act.
    • Procedure for transferring the liquor license to the purchaser.
    • The seller warrants that the employees are not represented under a collective bargaining agreement.
    • Conditions of the purchaser for closing the transaction.
    • Representations and warranties of the seller.
    • Disclosure of revenues, expenses, contracts and business information.
    • Assignment of service contracts and leases, trade names, signage and phone numbers from the seller to the purchaser.

    The Schedule to Asset Purchase Agreement for Restaurant covers the special conditions that apply when purchasing restaurant assets under Ontario provincial laws.