Ontario Offer to Purchase Business Assets

Buy the assets, inventory and supplies of an Ontario business with this Offer to Purchase Business Assets.

• Upon written acceptance of the Offer by the seller, the Offer to Purchase becomes a binding agreement of purchase and sale between the parties.
• The offer is conditional upon the purchaser receiving financing sufficient for the transaction.
• The purchaser will take over the lease on the business premises and assume certain liabilities.
• The purchaser is responsible for paying GST and PST on the transaction.
• The purchaser will pay the value of current inventory and supplies on hand as of the closing date, valued at lower of cost and net realizable value, as determined by the parties after conducting a physical inventory.
• The parties will cooperate in obtaining any third party consents required to complete the transaction.
• The parties will jointly file a GST election under section 167(1) of the Excise Tax Act.

This Ontario Offer to Purchase Business Assets template is provided in MS Word format, and is fully editable to fit your needs.