A search under section 427 of the Bank Act to determine whether any Notices of Intention to give security have been filed with the Bank of Canada against a corporation, business or individual.
The Bank Act certificate will reveal if a borrower (company/individual) has entered into an agreement that provides the bank the first preferential lien on inventory/goods or equipment. If such an agreement exists the Bank would register a ‘Notice of Intention‘ under section 427 of the Bank Act and the details would be provided in the search certificate.
Adobe PDF Search Report.
Bank Act search certificate is available from 1 to 2 hours depending on time of order and system availability.
Northwest Territories, Nunavut and Yukon processing times will vary.
