Products tagged with 'ontario purchase of business'

Have you decided to buy an established business in Ontario? You can write up your offer to purchase the assets and shares of the company with this downloadable template.

• The offer is for the assets (excluding cash on hand and receivables) and the shares, but not the debt obligations of the company.
• Upon being accepted, the offer automatically becomes a legally binding purchase and sale agreement.
• The buyer will not assume any of the business liabilities except for the premises lease, maintenance contracts and salaries of employees that will be kept on after the closing.
• The parties agree to review and make any adjustments to the purchase price six months after closing.
• It is the seller's responsibility to terminate employees, prepare financial statements, file the final income tax return and pay corporate taxes as of the closing date.
• This is a downloadable fully editable template in MS Word format.
• Intended for use in the Province of Ontario, Canada.

Acquire the assets of an Ontario corporation with this Purchase Agreement for Assets of Operating Company.

• The seller (vendor) sells the assets of a company to the purchaser and the purchaser assumes the company's liabilities as part of the purchase price.
• The balance of the purchase price will be secured by a promissory note.
• The parties agree to file joint elections under sections 22 and 97(2) of the Income Tax Act (Canada) and as required under the Ontario Corporations Tax Act.
• The form includes a Section 116 Affidavit to be sworn by a corporate officer of the vendor, if applicable.
• The form also includes a Promissory Note.
• This is a fully editable legal template intended for use only in the Province of Ontario, Canada.

Learn how to successfully negotiate a fair price for selling your business with this 20-page expert guide which examines the issues you need to consider, including:

• the difference between fair market value and negotiated purchase price,
• the pros and cons of selling shares vs. selling assets,
• various methods of valuing your business,
• recasting the company financial statements,
• negotiating the value of goodwill,
• normalized sustainable future earnings,
• assessing the buyer's risk,
• techniques for bridging the gap between price and value assessments.

Selling Your Business: Successfully Negotiating Price is a comprehensive how-to guide written by an Ontario lawyer with years of experience helping business owner-managers with their exit strategies.

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.
• Available in MS Word format.
• Intended to be used only in the Province of Ontario, Canada.

Prepare a Schedule to an Asset Purchase Agreement for the purchase and sale of the assets of a hotel business with this downloadable template for Ontario.

• Room rentals, restaurant and lounge receipts will be adjusted at midnight on the date of closing.
• Method of 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.
• This Asset Purchase Agreement Schedule addresses the special matters to be considered when purchasing hotel assets under Ontario provincial laws.
• Available in MS Word format and fully editable.
• Intended to be used only in the Province of Ontario, Canada.

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

• 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.
• Available in MS Word format and fully editable.
• Intended to be used only in the Province of Alberta, Canada.