This report reveals if a borrower (individual/corporation) has entered into an agreement that provides a bank with the first preferential lien on inventory/goods or equipment. This type of security is available only to Canadian chartered banks and foreign bank subsidiaries incorporated under the Bank Act. The section also allows banks to lend money and make advances to certain borrowers.
Should such an agreement be in place, a ‘Notice of Intention‘ would be filed with the Bank of Canada pursuant to section 427 of the Bank Act. The specifics would be detailed on the search certificate. This search is accessible throughout Canada and is carried out by each Province/Territory.
Adobe PDF Search Report.
*Important notes for ‘Exact Match’ and ‘Starts With’ search options. Please review.
Company Names
EXACT MATCH returns results that exactly matches the name entered.
Example: Searching “ABC Contracting Ltd.” will NOT return “ABC Contracting Limited” or “ABC Contracting” – only the exact name entered.
STARTS WITH option returns results for names begin with the characters or words entered.
Example: Searching “ABC Contracting” will return “ABC Contracting Ltd.” or “ABC Contracting Ltd.” or any other names beginning with “ABC Contracting…”
Individual Names
EXACT MATCH returns results that exactly matches the first and middle name entered.
Example: Searching “John” will NOT return “Johnathon” – only the exact name entered.
STARTS WITH option returns results for names begin with the name entered.
Example: Searching “John” will return “Johnathon”, “Johnson”, “Johnnie” or any other names beginning with “John…”
