Financial

This in-depth article describes a variety of offshore structures available to residents of Canada, for the purpose of asset protection. In particular, opportunities in the Bahamas are discussed.

The article provides a variety of information, including:

• a summary of how each structure is established,
• the purposes, advantages and disadvantages of each type of structure,
• international business corporations,
• settlement trusts,
• international foundations,
• universal life insurance,
• international deferred compensation programs,
• income stabilization plans,
• individual and corporate funding methods.

Establishing an Offshore Structure for Canadians is intended for residents of Canada, and is provided in Adobe PDF format.

Purchase the accounts receivable of a Canadian business with this Factoring and Accounts Receivable Security Agreement with Full Recourse.

• Under this Agreement (also called a debt purchase contract), a company needing cash for operations sells its accounts receivable to a factor (buyer) for an immediate cash injection, at a discounted rate off the face value of the accounts.
• The buyer has full recourse against the seller for the full amount of any receivable which is not paid or disputed by a customer, together with interest on unpaid accounts.
• The template is provided in MS Word format and is fully editable to meet your needs.
• This is a Canadian legal form which can be used in most provinces and territories.

Purchase accounts receivable from Canadian companies with this Factoring and Accounts Receivable Security Agreement with Limited Recourse.

• Under this Agreement (also called a debt purchase contract), a company needing cash for operations sells its accounts receivable to a factor for an immediate cash injection, at a discounted rate off the face value of the accounts.
• The factor has only limited recourse against the seller for the amount of any receivable which is not paid or disputed by a customer, plus interest on unpaid accounts, up to a predetermined limit.
• The factor will also pay the seller any excess funds received by the factor on customer accounts.
• This legal contract template is available in MS Word format.
• Governed by Canadian laws and intended for use only in Canada.

Prepare a Finder's Fee Agreement for Identifying Potential Financings with this easy-to-use template form for Canada.

• The Agreement is between a Canadian company looking for a source of financial backing and an agent who will introduce the company to potential investors or acquirers to complete a financing with the company.
• The agent will be paid a finder's fee for each financing consummated by the company. The finder's fee will be paid in cash from the proceeds.
• A financing includes acquisition or disposition of an interest in the company, equity investment, loans or other credit transactions, or acquisition by or of a publicly traded company.
• If the financing is completed and payment is received by the client in stages, the agent will be paid in portions corresponding to the stages of payments.
• The client will indemnify the agent against any claims arising as a result of material misrepresentation by the client of any of its corporate information.
• This is a Canadian legal document available in MS Word format, and is fully editable.

Prepare a Fixed Rate Closed Term Mortgage with this template form for Canada.

• Standard provisions of the mortgage include:
  • Equal monthly payments of blended principal and interest (and taxes, if the lender requires).
  • On default, the lender has the right to take possession of the property by distress warrant or by foreclosing on the property.
  • The lender has the right to bring legal action to recover mortgage arrears and costs, plus interest and any other amounts owing.
• Available in MS Word format.
• This template can be used in most Canadian provinces except for Quebec.

If you are getting a home loan to purchase a property, the mortgage lender may require a Flood Zone Statement before funding the mortgage loan.

• This Flood Zone Statement form must be jointly completed by both the buyer and the seller.
• The seller must state whether or not the property is located in an area that is flood prone, as defined by the National Flood Insurance Act.
• The buyer agrees to obtain any required flood hazard insurance.
• This free form can be used anywhere in the United States.

Florida lenders, prepare a Balloon Mortgage for borrowers with this easy-to-use 17-page template.

• The mortgage contains uniform covenants with respect to payment of principal and interest, taxes and insurance, prior mortgages, preservation of the property, acceleration and remedies on default, and other standard mortgage clauses.
• The mortgage and note securing the mortgage may be sold without prior notice to the borrower.
• The mortgage form includes a Rented Property Addendum to be used if the mortgaged property is rental property.
• This template is in MS Word format and is fully editable. You can download the digital file right after purchasing it.
• Intended to be used only in the State of Florida.

Florida mortgage lenders, prepare a Mortgage Note to secure a balloon mortgage with this easy-to-use template.

• Under this form of Mortgage Note, the borrower agrees to make monthly payments against the secured amount, until the date of the final payment which will be a balloon payment.
• On the final payment date, the entire balance of principal and interest outstanding is due.
• The Note is secured by a mortgage on the borrower's property.
• This form template is available in MS Word format and is fully editable.
• Intended for use only in the State of Florida.

Use this Commercial Mortgage Loan Application for corporate borrowers looking for mortgage funding.

• This application form is intended for use in Florida, but can be adapted for use in any other State.
• Applicants must provide information about the property and any existing mortgages or encumbrances.
• If there are guarantors, their personal details must be provided as well.
• The borrower must disclose the use of the proceeds, and any amounts that the borrower is investing.

The Florida Commercial Mortgage Loan Application form is a free download - just click the Download button to get your copy.

You've found a buyer for your home, but they can't qualify for a conventional mortgage. If you can let them pay the purchase price over time, then this Florida Contract for Deed is for you.

• Under the Contract for Deed (or 'land contract'), the seller essentially becomes the mortgage lender. The buyer makes payments against principal and interest to the seller instead of to a bank.
• At the end of the agreed period of time, the remaining balance is payable in one balloon payment.
• If the buyer defaults, the seller has the right to terminate the agreement and take possession of the property. The buyer would forfeit all payments made.
• Available in MS Word format.
• Intended to be used only in the State of Florida.