Purchase Money Security Agreement (Alberta)

Secure payment for inventory sold on credit to a customer with this Purchase Money Security Agreement for the Province of Alberta.

• The customer (debtor) grants the supplier (secured party) a purchase money security interest in the secured goods and proceeds from the sale of the goods.
• The debtor must keep the collateral free of any other liens or security interests ranking equal to or in priority to the secured party's interest.
• The debtor can only sell the secured goods in the ordinary course of business.
• If the debtor defaults in payment, the secured party has the right (among other remedies) to appoint a receiver-manager over the collateral.

The Alberta Purchase Money Security Agreement is prepared in accordance with the Personal Property Security Act.