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Unlike most bank loans to small businesses, government loans may be unsecured. Loan guarantees – Under the Canadian Small Business Financing Act, [1] the federal government may guarantee a financial institution's loan to a small business, to a maximum of 85 percent. If the borrower defaults on a loan, the bank is protected, and therefore more ...
A loan agreement (also known as a lending agreement [1]) is a contract between a borrower and a lender which regulates the mutual promises made by each party.
FOB (free on board) is an international commercial term for delivery of goods by sea or inland waterway, where the seller pays for transportation to the port of shipment and the buyer pays for the rest. FOB also has a different meaning in North America, where it indicates the point of transfer of liability and risk from the seller to the buyer.
The Canada–United States Free Trade Agreement (CUSFTA), official name as the Free Trade Agreement between Canada and the United States of America (French: Accord de libre-échange entre le Canada et les États-Unis d'Amérique), was a bilateral trade agreement reached by negotiators for Canada and the United States on October 4, 1987, and signed by the leaders of both countries on January 2 ...
BDC is a Crown corporation and national development bank owned by the Government of Canada, mandated to help create and develop Canadian businesses. It offers financing, growth and transition capital, venture capital and advisory services, with a focus on small and medium-sized enterprises.
Limited liability is a legal status that limits a person's financial responsibility for a company's debts to the amount of their investment. Learn how limited liability evolved from medieval guilds to modern corporations and its implications for business and society.
A title retention clause (or Romalpa clause) is a contract term that keeps the seller's ownership of goods until the buyer pays. Learn about its purpose, legal analysis, problems and sample clauses.
The Agreement between the United States of America, Mexico, and Canada (USMCA) [1] [Note 1] is a free trade agreement among the United States, Mexico, and Canada.It replaced the North American Free Trade Agreement (NAFTA) implemented in 1994, [2] [3] [4] and is sometimes characterized as "NAFTA 2.0", [5] [6] [7] or "New NAFTA", [8] [9] since it largely maintains or updates the provisions of ...