The Fixed Sum Credit Agreement is a crucial document used in Canadian lending transactions where a specific amount of credit is extended to a borrower under fixed terms. This agreement is particularly relevant in situations where a lender provides a one-time loan amount to be repaid according to a predetermined schedule, rather than a revolving credit facility. The document must comply with Canadian federal legislation, including the Interest Act, Bank Act, and Criminal Code provisions regarding interest rates, as well as provincial consumer protection laws. It includes comprehensive details about the credit facility, repayment terms, security arrangements, and borrower obligations. The agreement is structured to meet Canadian regulatory requirements for consumer disclosure and incorporates specific provisions for interest rate calculations and cost of borrowing disclosures. This type of agreement is commonly used for business loans, equipment financing, and structured personal lending arrangements where the full loan amount is disbursed at once.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the lender and borrower with full legal names and addresses
2. Background: Context of the agreement and purpose of the loan
3. Definitions: Defined terms used throughout the agreement
4. Loan Amount and Purpose: Specific amount of credit being extended and its intended use
5. Interest Rate and Calculations: Interest rate, calculation method, and annual percentage rate (APR) details
6. Repayment Terms: Payment schedule, amounts, frequency, and method of payment
7. Fees and Charges: All applicable fees, charges, and penalties
8. Security: Details of any security or collateral for the loan
9. Representations and Warranties: Borrower's confirmations regarding their financial status and ability to repay
10. Covenants: Ongoing obligations of the borrower during the term of the loan
11. Events of Default: Circumstances constituting default and consequences
12. Remedies: Lender's rights and remedies upon default
13. Privacy and Data Protection: Handling of personal information in compliance with PIPEDA
14. Notices: How formal communications between parties should be made
15. General Provisions: Standard boilerplate clauses including governing law, assignment, and amendments
1. Guarantor Provisions: Required when there is a guarantor for the loan
2. Insurance Requirements: Required when specific insurance must be maintained on collateral
3. Prepayment Rights: Include when early repayment options are offered
4. Co-Borrower Provisions: Required when there are multiple borrowers
5. Special Purpose Covenants: Include when loan is for specific purpose requiring special conditions
6. Cross-Default Provisions: Include when borrower has other loans with the lender
7. Electronic Communications Consent: Required when parties agree to electronic delivery of notices and statements
1. Schedule A - Payment Schedule: Detailed amortization schedule showing all payments, interest, and principal
2. Schedule B - Fee Schedule: Comprehensive list of all fees and charges
3. Schedule C - Security Details: Detailed description of any collateral or security
4. Schedule D - Insurance Requirements: Specific insurance requirements for secured assets
5. Appendix 1 - Disclosure Statement: Regulatory required cost of borrowing disclosure
6. Appendix 2 - Direct Debit Authorization: Authorization for automatic payment withdrawals
7. Appendix 3 - Certificate of Independent Legal Advice: Confirmation that borrower received independent legal advice
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Commercial Lending
Retail Banking
Small Business Services
Construction
Manufacturing
Agriculture
Professional Services
Healthcare
Education
Technology
Relevant Teams
Legal
Compliance
Credit Risk
Commercial Banking
Retail Banking
Documentation
Underwriting
Corporate Banking
Operations
Risk Management
Credit Administration
Regulatory Affairs
Relevant Roles
Credit Manager
Commercial Loan Officer
Legal Counsel
Compliance Officer
Risk Manager
Financial Services Representative
Credit Analyst
Underwriter
Account Manager
Business Development Manager
Corporate Banking Officer
Legal Document Specialist
Credit Administration Manager
Regulatory Compliance Specialist
Senior Lending Officer
Find the exact document you need
Loan Agreement With Co Maker
A Canadian-law governed loan agreement establishing terms between a lender, borrower, and co-maker, with shared repayment responsibility.
Download
Family Loan Contract
A Canadian legal agreement formalizing monetary loans between family members, establishing terms, conditions, and repayment obligations while complying with federal and provincial laws.
Download
Take Over Car Loan Payments Contract
A Canadian legal agreement facilitating the transfer of car loan payment obligations from an original borrower to a new borrower, outlining terms and protecting all parties' interests.
Download
Repayment Of Debt Agreement
A Canadian-law governed agreement establishing formal terms for debt repayment, including payment schedule, interest rates, and default provisions.
Download
Private Lending Agreement
A Canadian-law governed agreement establishing terms and conditions for a private loan between parties, including loan amount, interest, repayment terms, and security arrangements.
Download
Pre Contract Agreement Car (Finance)
A Canadian jurisdiction preliminary agreement outlining terms and conditions for potential vehicle financing, serving as a precursor to the final finance contract.
Download
Cellphone Loan Agreement
A Canadian-law governed agreement establishing terms and conditions for mobile device loans, including usage rights, responsibilities, and return requirements.
Download
Car Payment Agreement Form
A Canadian legal document establishing terms and conditions for vehicle payment arrangements, including purchase details, payment schedules, and party obligations.
Download
Agreement Between Co Signer And Borrower
A Canadian legal agreement defining the relationship and obligations between a co-signer and borrower for a loan guarantee, governed by federal and provincial laws.
Download
Friendship Loan Agreement
A Canadian legal document formalizing a loan agreement between friends, establishing clear terms while complying with federal and provincial lending laws.
Download
Syndicated Facility Agreement
Canadian law-governed agreement establishing terms for a syndicated loan facility provided by multiple lenders to a borrower, including loan terms, parties' rights, and obligations.
Download
Private Loan Agreement For (Real Estate)
A Canadian-law governed agreement establishing terms and conditions for a private loan secured by real estate property, including loan terms, security arrangements, and party obligations.
Download
Peer To Peer Lending Agreement
A Canadian-law governed agreement establishing terms and conditions for direct lending between private individuals, including loan terms, interest rates, and mutual obligations.
Download
Revolving Credit Contract
A Canadian law-governed agreement establishing a revolving credit facility that allows for multiple draw-downs and repayments up to a specified credit limit.
Download
Family Member Promissory Note
A Canadian legal document formalizing loan agreements between family members, establishing terms, conditions, and repayment obligations in compliance with federal and provincial regulations.
Download
Vendor Finance Loan Agreement
Canadian-law governed agreement establishing terms for vendor-provided financing for goods or equipment purchase, including loan terms, security, and enforcement provisions.
Download
Fixed Sum Loan Agreement Early Settlement
Canadian-law governed fixed-sum loan agreement with early settlement provisions, compliant with federal and provincial lending regulations.
Download
Employee Loan Agreement Interest
A Canadian-law governed agreement establishing terms for an employer-provided loan to an employee, including interest rates, repayment terms, and compliance with relevant regulations.
Download
Acknowledgement Of Debt Agreement
A Canadian legal document formally acknowledging a debt obligation and establishing repayment terms, governed by federal and provincial laws.
Download
Construction Loan Contract
A legal agreement governing construction project financing in Canada, outlining loan terms, construction requirements, and compliance with federal and provincial regulations.
Download
Demand Loan
A Canadian jurisdiction agreement establishing terms for a loan that can be called for repayment at any time by the lender, including amount, interest, and parties' obligations.
Download
Home Equity Loan Agreement
A Canadian-law governed agreement establishing terms for borrowing against home equity, detailing loan conditions, security arrangements, and compliance with federal and provincial regulations.
Download
Inter Lender Agreement
A Canadian-law governed agreement establishing priorities and relationships between multiple lenders providing financing to the same borrower.
Download
Overagreement
Canadian master agreement establishing framework terms for ongoing business relationships and subsequent agreements.
Download
Facility Letter Mortgage
A Canadian legal document combining credit facility terms with mortgage security requirements, setting out the conditions for property-secured lending under Canadian federal and provincial regulations.
Download
Credit Terms Agreement
A Canadian-law governed agreement establishing credit terms between parties, including credit limits, interest rates, and payment conditions in compliance with federal and provincial regulations.
Download
Assignment Of Loan Agreement
A Canadian legal document transferring loan rights and obligations from one lender to another, compliant with federal and provincial regulations.
Download
Agreement Between Two Persons For Money
A Canadian-law governed agreement documenting a monetary loan between two individuals, establishing loan terms, repayment conditions, and legal obligations.
Download
Subordinated Loan Agreement
A Canadian-law governed agreement establishing terms for a subordinated loan and its ranking below senior debt obligations.
Download
Work Loan Agreement
A Canadian legal agreement establishing terms for an employer-provided loan to an employee, including repayment terms and employment relationship considerations.
Download
Peer To Peer Lending Contract
A Canadian-law governed agreement establishing terms and conditions for direct lending between private individuals, including loan terms, obligations, and regulatory compliance requirements.
Download
Letter To Borrow Money From Friend
A Canadian-compliant formal letter documenting a personal loan agreement between friends, establishing loan terms while maintaining legal validity under Canadian law.
Download
Student Loan Agreement
A Canadian-law governed agreement establishing terms and conditions for student financial assistance, compliant with federal and provincial student loan regulations.
Download
Simple Loan Application Form
A Canadian-compliant loan application form for collecting borrower information and required disclosures under federal and provincial lending regulations.
Download
Private Lending Term Sheet
A Canadian-compliant document outlining key terms and conditions for a private lending arrangement, serving as the foundation for a final loan agreement.
Download
Personal Loan Receipt
A Canadian-compliant document acknowledging receipt of a personal loan, specifying loan amount, terms, and parties' obligations.
Download
Payday Loan Contract
Canadian payday loan agreement template compliant with federal and provincial regulations, governing short-term consumer loans with mandatory disclosures and protections.
Download
Loan Note
A Canadian-law governed financial instrument documenting loan terms, repayment obligations, and security arrangements between lender and borrower.
Download
Investment Loan Contract
A Canadian-law governed agreement establishing terms for an investment-purposed loan, including loan terms, investment parameters, and regulatory compliance requirements.
Download
Facility Agreement
A Canadian law-governed agreement establishing terms for providing credit facilities, including loan terms, security arrangements, and compliance with Canadian banking regulations.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)