CANADA

Canadian lenders, secure repayment of a loan from a borrower with these Loan Transaction Forms for Canada. Fully editable and easy to customize to meet your needs.

Q. Why do I need to document a loan to a family member or close friend?

A. In order to be classified as a secured creditor you must document the loan and get some collateral from the borrower, such as a mortgage on their home or an encumbrance on a vehicle or other asset. Secured debts are not automatically wiped out if the borrower declares bankruptcy. Secured debts take priority over unsecured debts, and you will have the legal right to foreclose or repossess and sell the items given as collateral if the borrower fails to honour its payment obligations.

Q. What rate of interest can I charge?

A. If there is no provincial law in your area which governs how interest will be charged on a loan or mortgage, the Canada Interest Act applies. If you have not stated whether the interest rate is simple or compound interest, a court would probably rule that only simple interest will be charged.

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Ontario General Assignment of Rents

This General Assignment of Rents template is for lenders in Ontario to obtain additional security for the repayment of a borrower's debt.

Under the Assignment a corporate borrower (debtor) assigns to the lender all rents, income and revenue from a mortgaged property, as security for a loan or line of credit being advanced to the borrower by the lender.
The borrower agrees not to accept prepayment of the rents or to further assign or encumber the rents or the leases.
The borrower may continue to receive the rents unless it is in default under the Assignment. In that event, the rents must be paid to the lender.
The lender has the right to enter the property and collect the rent, enforce the lease or maintain the property.
Available in MS Word format.
Intended for use only in the Province of Ontario, Canada.

$17.99

Ontario General Security Agreement

Ontario lenders, prepare a General Security Agreement with this comprehensive template form.

The borrower grants the lender a security interest in all of the borrower's present and future personal property including inventory, equipment, accounts and book debts, and all proceeds therefrom.
The interest is being granted to the lender as security for loan financing, operating lines, or other credit facilities advanced by the lender to the borrower.
The Security Agreement is governed by the Ontario Personal Property Security Act.
This document is available as a fully editable MS Word template form.

$29.99

Ontario Loan Agreement for Non-Revolving Bridge Financing

Prepare a Loan Agreement for a non-revolving loan for bridge financing with this downloadable template for Ontario.

This type of loan agreement is typically used for construction projects.
Advances will be made as and when needed, up to a maximum amount.
Interest will be calculated daily based on the principal balance outstanding, not compounded.
Principal may be repaid at any time with no prepayment penalty.
All outstanding principal and interest becomes due upon completion of the project.
This legal contract template is available as a downloadable and fully editable MS Word template.
Intended for use only in the Province of Ontario, Canada.

$12.49

Ontario Loan Agreement for Non-Revolving Term Loan with Royalty Payments

Use this ready-made template to draw up a Loan Agreement for a non-revolving term loan with royalty payments.

This is an Ontario legal document.
The loan is a non-revolving term loan, to be advanced in a single payment.
The loan bears no interest until default. Instead of interest, the borrower will pay a percentage of its net revenues to the lender as a royalty (exclusive of loan advances).
All payments are applied to interest first.

$6.29

Ontario Purchase Money Security Agreement

Protect your creditor rights with this Purchase Money Security Agreement for Ontario suppliers.

The contract is made pursuant to provincial Personal Property Security Act legislation.
The parties to the Agreement are a customer (debtor) and a supplier (secured party).
The supplier extends credit to the debtor for the purchase of goods under a specific purchase order.
In return for the credit, the debtor grants the supplier a first, fixed, specific purchase money security interest in the goods and in the proceeds therefrom.
This legal contract form is a fully editable Microsoft Word template.
Intended for use only in the Province of Ontario, Canada.

$17.99

Ontario Revolving Credit Agreement

Provide revolving credit facilities to a corporate borrower with this Revolving Credit Agreement for Ontario lenders.

The Agreement allows the borrower to borrow and reborrow funds up to a stated maximum amount.
The purpose of the credit facility is to finance the borrower's general operations, and the borrower agrees not to use the funds for any other purpose.
The borrower grants the lender a first priority security interest over all of the borrower's personal property, and a guarantee and postponement of claim from a principal of the borrower, as security for repayment.
Representations and warranties from both the borrower and the guarantor, including environmental warranties.
The guarantor must maintain a specified ratio of current assets to current liabilities, and of total liabilities to tangible net worth.
The total amount due may be repaid without penalty at any time.
This legal document is intended for use in the Province of Ontario, Canada.

$29.99

Ontario Share Pledge Agreement

Obtain a pledge of securities from a borrower under this Share Pledge Agreement, pursuant to the provisions of the Ontario Personal Property Security Act.

A borrower pledges shares of stock to a lender, to be held as security for a loan that the lender is making to the borrower.
The borrower agrees to pledge any additional, substitute or replacement shares issued in its name.
The borrower retains the right to vote the shares.
The agreement contains a limitation on personal liability clause with respect to the borrower's responsibility for any deficiency owing after disposition of the shares.
This form is a fully customizable legal template that you can use as often as you need to.
Intended for use only in the Province of Ontario, Canada.

$29.99

Ontario Share Pledge Agreement with No Recourse

Prepare a Share Pledge Agreement with No Recourse with this template form, pursuant to the provisions of the Ontario Personal Property Security Act.

A shareholder pledges shares of stock to a lender, to be held as security for a loan that the lender is making to a borrower that is a related party to the shareholder.
The borrower agrees to pledge any additional, substitute or replacement shares issued in its name.
The borrower retains the right to vote the shares.
The shareholder has no liability for any shortfall between the balance of the debt owing and any proceeds realized from dealing with the shares, and the lender has no recourse against the shareholder for such shortfall.
The shareholder is not a guarantor, surety or indemnifier.
This legal form template is available in MS Word format.
Intended for use in the Province of Ontario, Canada.

$24.99

Postponement Agreement under PPSA | Canada

Subordinate the security interest of an existing lender to a new lender under the terms of this Postponement Agreement for Canadian provinces with PPSA legislation.

The parties to the Agreement are (i) a borrower, (ii) the borrower's new lender, and (iii) a previous lender who is still owed money by the borrower.
The first lender agrees to postpone its security to the new lender's security, notwithstanding that the previous lender is a secured creditor.
The purpose of the Agreement is to induce the new lender to provide the borrower with loan financing, a line of credit, or other type of borrowing arrangement.
This legal contract is available in MS Word format and is easy to download and use.
The Postponement Agreement can be used in any province or territory in Canada which has a Personal Property Security Act.

$11.49

Renunciation of Interest in Fixture | Canada

Renounce your interest in a fixture which was used as collateral for a loan or credit facility with this easy-to-use form for Canadian lenders.

This form of notice is given by a secured party to give up its security interest in a defaulting debtor's fixture after the outstanding debt has been paid by another party who also has an interest in the fixture (such as a landlord).
This form can be used in any Canadian province or territory.
The form is a downloadable Microsoft Word document.

$2.29