Bank Act Searches

This report indicates whether a borrower, whether an individual or a corporation, has established an agreement that grants a bank the primary preferential lien on inventory, goods, or equipment. This form of security is exclusively available to Canadian chartered banks and foreign bank subsidiaries that are incorporated under the Bank Act.  If such an agreement exists, a ‘Notice of Intention’ will be submitted to the Bank of Canada in accordance with section 427 of the Bank Act.

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