¶¶Òõ¶ÌÊÓÆµ

Promissory Note Sale Agreement Template for Canada

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Promissory Note Sale Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Promissory Note Sale Agreement

"I need a Promissory Note Sale Agreement for our company to purchase a $500,000 promissory note from ABC Financial Ltd., with the closing scheduled for March 15, 2025, and payment to be made in two installments."

Document background
The Promissory Note Sale Agreement is essential for businesses and financial institutions engaged in debt trading or restructuring in Canada. This document is commonly used when a holder of a promissory note wishes to sell or transfer their rights to receive payment to another party. It becomes particularly relevant in scenarios involving debt portfolio sales, business acquisitions, or financial restructuring. The agreement must comply with Canadian federal legislation, including the Bills of Exchange Act and anti-money laundering regulations, as well as provincial securities and commercial laws. The document typically includes comprehensive details about the note being sold, purchase price calculations, representations about the note's validity and enforceability, and specific transfer requirements. It's crucial for ensuring a legally sound transfer of the note and protecting both parties' interests in the transaction.
Suggested Sections

1. Parties: Identifies the seller and purchaser of the promissory note, including their full legal names and addresses

2. Background: Describes the existence of the promissory note, its current ownership, and the parties' intention to enter into a sale transaction

3. Definitions: Defines key terms used throughout the agreement, including 'Promissory Note', 'Purchase Price', 'Closing Date', etc.

4. Sale and Purchase: Details the core transaction: the seller's agreement to sell and the purchaser's agreement to buy the promissory note

5. Purchase Price and Payment: Specifies the purchase price and payment terms, including method and timing of payment

6. Closing: Sets out the closing date, location, and deliverables required from each party

7. Representations and Warranties of Seller: Seller's assurances regarding ownership, validity, and status of the promissory note

8. Representations and Warranties of Purchaser: Purchaser's assurances regarding authority and capacity to enter into the transaction

9. Transfer and Assignment: Mechanics of transferring the promissory note and associated rights

10. Notices: Details how formal communications between parties should be made

11. General Provisions: Standard contract clauses including governing law, amendments, and severability

Optional Sections

1. Security Interest: Include when the promissory note is secured by collateral or other security interests

2. Due Diligence: Include when the purchaser requires a period to review the note and related documentation

3. Conditions Precedent: Include when there are specific conditions that must be met before closing

4. Regulatory Compliance: Include when the transfer requires specific regulatory approvals or filings

5. Servicing Arrangements: Include when there are ongoing servicing responsibilities for the note

6. Indemnification: Include when specific indemnification provisions are needed beyond standard representations

7. Tax Matters: Include when there are specific tax implications that need to be addressed

Suggested Schedules

1. Schedule A - Promissory Note: Copy or details of the original promissory note being sold

2. Schedule B - Security Documents: Details of any security interests or collateral associated with the note

3. Schedule C - Payment History: Record of payments made on the note to date

4. Schedule D - Due Diligence Documents: List of documents provided for due diligence review

5. Schedule E - Transfer Documents: Forms and notices required to effect the transfer

6. Appendix 1 - Calculation of Purchase Price: If applicable, detailed calculation of the purchase price including any adjustments

7. Appendix 2 - Closing Checklist: List of all deliverables and actions required for closing

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


















































Clauses



































Relevant Industries

Banking

Financial Services

Investment Management

Private Equity

Commercial Lending

Real Estate

Asset Management

Debt Collection

Business Services

Corporate Finance

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Investment

Credit Administration

Corporate Development

Business Development

Documentation

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Investment Manager

Portfolio Manager

Credit Manager

Legal Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Business Development Manager

Transaction Manager

Debt Collection Manager

Commercial Director

Investment Analyst

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Home Contract Sale

A Canadian-law governed agreement for the sale and purchase of residential property, establishing terms and conditions for property ownership transfer.

find out more

Sales Contract In (Real Estate)

A legally binding agreement for real property transfer in Canada, documenting sale terms and conditions in compliance with federal and provincial laws.

find out more

Private Sale Contract For Car

A Canadian legal agreement for private vehicle sales between individuals, documenting transaction terms and ownership transfer requirements.

find out more

Contract To Sell Agreement

A Canadian-law governed agreement establishing terms and conditions for the sale of goods or property between seller and buyer.

find out more

Second Hand Car Sale Contract

A Canadian-law governed contract for the sale and purchase of a used vehicle, including vehicle details, sale terms, and ownership transfer provisions.

find out more

Binding Sales Contract

A legally binding agreement under Canadian law establishing terms and conditions for the sale of goods between parties.

find out more

Sale Of Partnership Agreement

A Canadian law-governed agreement documenting the sale and transfer of partnership interests, including terms of sale, warranties, and transitional provisions.

find out more

Provisional Sales And Purchase Agreement

A Canadian-law governed preliminary agreement that sets out conditional terms for a sale and purchase transaction, establishing framework and conditions precedent for the final sale.

find out more

As Is Sale Agreement

A Canadian legal agreement for the sale of property or goods in their current condition without warranties, subject to provincial regulations.

find out more

Sell Contract For Deed

A Canadian jurisdiction Contract for Deed document outlining terms for seller-financed property purchase with retained title until full payment.

find out more

Buy Sell Contract

A Canadian law-governed agreement documenting the sale and purchase of goods between parties, outlining key terms and conditions of the transaction.

find out more

For Sale By Owner Property Contract

A Canadian legal document for direct property sales between private sellers and buyers without real estate agent involvement, ensuring compliant property transfer under Canadian law.

find out more

Deed Of Sale Of House And Lot

A legal document used in Canadian jurisdictions to transfer ownership of a house and lot from seller to buyer, containing all essential terms and conditions of the sale.

find out more

Deed Of Sale Agreement Of Immovable Property

A formal Canadian legal document that establishes the terms and conditions for the transfer of immovable property ownership between parties, complying with provincial property laws.

find out more

Person To Person Car Sale Contract

A Canadian legal agreement for private vehicle sales between individuals, compliant with provincial motor vehicle regulations and consumer protection laws.

find out more

Final Sale Agreement

A Canadian-law governed agreement that finalizes the terms and conditions of a sale transaction between parties, documenting all essential elements of the sale.

find out more

Contract For Selling A Car Privately

A standardized Canadian legal agreement for the private sale of a motor vehicle between individuals, ensuring compliant transfer of ownership and protecting both parties' interests.

find out more

Business Partner Buy Sell Agreement

A Canadian-law governed agreement establishing terms for the purchase and sale of business ownership interests between partners, including succession planning and transfer provisions.

find out more

Agency Listing Agreement

A Canadian-compliant contract establishing the terms under which a real estate brokerage is authorized to list and sell a property on behalf of the owner.

find out more

Sale Of Equipment Agreement

A Canadian-law governed agreement establishing terms and conditions for equipment sale and purchase, including specifications, pricing, warranties, and regulatory compliance.

find out more

Private Party Sales Agreement

A Canadian-compliant legal agreement for the sale of goods or assets between private individuals, outlining sale terms, conditions, and ownership transfer.

find out more

Sell Lease Agreement

A Canadian legal document combining property sale and leaseback arrangements in a single transaction, governed by federal and provincial property and commercial laws.

find out more

Bill Of Sale Land Contract

A Canadian legal document facilitating the transfer of land ownership between parties, detailing sale terms and conditions in compliance with federal and provincial regulations.

find out more

Owner Financed Home Sale Contract

A Canadian legal agreement combining property sale and seller financing terms, where the property seller acts as the lender instead of a traditional mortgage provider.

find out more

Exclusive Sale And Listing Agreement

A Canadian legal agreement granting exclusive rights to a real estate brokerage to market and sell a property on behalf of the owner.

find out more

Sale Agreement Form

A Canadian law-governed agreement that formalizes the sale and transfer of goods or services between parties, outlining key terms and conditions of the transaction.

find out more

Sold As Seen Contract

A Canadian legal agreement for selling items "as is" without warranties, where the buyer accepts the item in its current condition with all existing faults.

find out more

Business Sale Non Compete Agreement

A Canadian-law governed agreement preventing business sellers from competing with their sold business, including specific temporal and geographic restrictions.

find out more

Standard Home Sale Contract

A legally binding agreement for residential property sales in Canada, documenting terms and conditions for property transfer between seller and buyer.

find out more

Vendor Sales Agreement

A Canadian-law governed agreement establishing terms and conditions for the sale of goods or services between vendor and purchaser.

find out more

Real Estate Sellers Contract

A Canadian-compliant agreement between a property seller and real estate brokerage establishing terms for professional property sale services.

find out more

Promissory Note Sale Agreement

A Canadian agreement governing the sale and transfer of a promissory note between parties, outlining purchase terms and transfer conditions under federal and provincial laws.

find out more

Contract To Sell Condo

A legally binding agreement for condominium sale and ownership transfer in Canada, incorporating federal and provincial regulatory requirements.

find out more

Contract Of Sale And Agreement To Sell

A Canadian legal document combining immediate sale terms with future sale agreements, governed by provincial/territorial laws and incorporating both common law and civil law principles where applicable.

find out more

Contract For Deed Land For Sale

A Canadian legal agreement where the seller finances the property sale and retains title until the buyer completes all scheduled payments.

find out more

Agreement To Sell A House

A legally binding Canadian agreement documenting the terms and conditions for the sale and transfer of residential property from seller to buyer.

find out more

Contract To Sell And Contract Of Sale

A Canadian legal agreement combining a promise to sell and actual sale transaction, detailing terms for ownership transfer of property or goods.

find out more

Exclusive Selling Agreement

A Canadian law-governed agreement establishing exclusive selling rights between a supplier and distributor within a defined territory.

find out more

Business Sale Offer And Acceptance Agreement

A Canadian legal document establishing the initial terms and conditions for the sale and purchase of a business, serving as the foundation for the final purchase agreement.

find out more

Lease Agreement Sale Of Property

A Canadian legal document combining a property lease agreement with terms for its future sale, compliant with federal and provincial real estate laws.

find out more

Sell Land Contract

A legally binding agreement for land transfer in Canada, outlining terms and conditions of sale while complying with federal and provincial property laws.

find out more

Horse Sale Contract With Payments

Canadian-compliant contract template for horse sales with installment payment terms, including ownership transfer and payment conditions.

find out more

Commercial Property Sale Contract

A Canadian-law governed agreement for the sale and purchase of commercial real estate, detailing all transaction terms and regulatory compliance requirements.

find out more

Sales And Service Contract

A Canadian-law governed agreement combining product sales and service provision terms, establishing comprehensive commercial relationships between suppliers and customers.

find out more

Residential Contract Of Sale

A standardized Canadian legal agreement for the sale and purchase of residential property, compliant with federal and provincial real estate laws.

find out more

Product Sales Agreement

A Canadian-law governed agreement establishing terms and conditions for commercial product sales, including pricing, delivery, warranties, and regulatory compliance.

find out more

Simple Consignment Agreement

A Canadian-law governed agreement where one party provides goods to another for sale while retaining ownership until final sale to customers.

find out more

Direct Sales Agreement

A Canadian-law governed agreement establishing terms between a supplier and direct seller, including sales rights, obligations, and regulatory compliance requirements.

find out more

Sales Service Agreement

A Canadian-compliant agreement governing the provision of sales services between a service provider and client, structured under Canadian federal and provincial law.

find out more

Commercial Sales Agreement

A Canadian-law governed agreement establishing terms and conditions for business-to-business sale of goods, including pricing, delivery, and warranty terms.

find out more

General Sales Agreement

A Canadian-law governed agreement establishing terms and conditions for the sale of goods between parties, including pricing, delivery, quality standards, and warranties.

find out more

Contract Of Deed Of Sale

A Canadian legal document formalizing the transfer of property ownership from seller to buyer, compliant with federal and provincial property laws.

find out more

Basic Sales Contract

A standard contract for the sale and purchase of goods under Canadian law, outlining key terms including price, delivery, and warranties.

find out more

Retail Sales Agreement

A Canadian-law governed agreement establishing terms and conditions for retail sales transactions between merchants and customers, incorporating federal and provincial consumer protection requirements.

find out more

Deed Of Sale Agreement

A Canadian legal document that transfers real property ownership from seller to buyer, outlining sale terms and conditions in accordance with federal and provincial laws.

find out more

Sale Of Equipment Contract

A Canadian-law governed agreement for the sale and purchase of equipment, outlining terms of sale, specifications, warranties, and compliance requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’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; ³Ò±ð²Ô¾±±ð’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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.