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 or individual) has entered into an agreement that provides the bank the first preferential lien on goods or equipment. If such an agreement exists the Bank would register a ‘Notice of Intention’ with the Bank of Canada 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.
