Sales of large quantities of stock or the sale of assets and equipment of the business itself outside the regular course of business are considered a sale "in bulk". The Bulk Sales Act is designed to protect the creditors of a business owner by requiring the owner to follow the procedures of the Act for sales outside the regular course of business. If a buyer wishes to purchase the assets and equipment of a business, the seller "in bulk" must provide an affidavit stating that all creditors have been paid, or they will be paid from the proceeds of the sale.
Filing a Bulk Sales Affidavit? Click here to more information on our filing services.
Bulk Sales Act Search - Ontario
A 'Bulk Sales Act search' is conducted with the Superior Court of Justice to determine if a Bulk Sales Affidavit has been filed. The search is conducted in the court jurisdiction based on the location of the assets being sold. The court manual indexes and computer databases are examined and a summary report is provided.
Need copies of a Court file? See below.
|Search Report Type||Centro Fee||Agent Fee||Price||Processing Time*|
|Bulk Sales Search - Toronto||$25.00||-||$28.25*||1-4 hours|
|Bulk Sales Search - Another Ontario jurisdiction (York, Peel, London, etc)||$25.00||$20-$70||varies||24-72 hours*|
|Toronto combination searches:|
|Any 2 of Bulk Sales, Litigation and Manual Bankruptcy - Toronto||$34.50||-||$38.99||1-4 hours|
|All 3 of Bulk Sales, Litigation and Manual Bankruptcy - Toronto||$49.50||-||$55.94||1-4 hours|
|Call or Email|
If a search results in a match found, copies of the court file can be order from the court and copies can be obtained. In Toronto, the Superior Court only stores files up to 3 years old and copies can be available within 24 to 48 hours. Older files stored at the off-site storage location have to be ordered in prior to viewing and copies and it can take up to 10 working days to arrive to the Toronto file room.
|Copies of Bulk Sales Files||Centro Fee||Cost per page||Agent Fees||Gov. Fees||Price|
|Toronto - Order copies of Bulk Sales file - ONSITE file (2-3 years old)||$20.00||$1.00||-||-||Varies|
|Toronto - Order copies of Bulk Sales file from storage - OFFSITE (2 court visits required)||$35.00||$1.00||varies||$61.00||Varies|
|Out of Town - Order copies of Bulk Sales File (York, Peel, London, etc)||$20.00||$1.00||varies||$61.00 (if off-site)||Varies|
|High volume file research and examiniation (applies to large complex boxed files)||$50.00/hr.||$1.00||Varies|