In early March 2024, a stand-alone Form C Charge (Priority Agreement) with Standardized Part 2 Terms will be introduced and include standardized granting language for a priority agreement. As is done for Transfer of Charge and Assignment of Rents, the new form contains two editable consideration fields for words of grant. In addition, once entered, relevant application numbers for the “Subsequent Charge” and “Prior Charge” will autopopulate item 3 of the form.
The Form C Charge (Priority Agreement) is limited to applying for one or more Priority Agreement applications. As such, the original Form C Charge with the Priority Agreement Nature of Interest will continue to exist in parallel and must be used where:
- an applicant wishes to use their own priority agreement granting language, or
- there’s a mixture of the priority agreement Nature of Interest and other different Natures of Interest, or
- the application number of the “Subsequent Charge” or “Prior Charge” is not known at the time the form is drafted. For example, the priority agreement is being filed as part of a package that includes the application for the “Subsequent Charge” or “Prior Charge”
When applying for one or more priority agreements on a single document, customers are highly recommended to use the new Form C Charge (Priority Agreement) to benefit from the functionality that leads to less data entry, accurate form completion, and reduced defects.
Using Standardized Part 2 Terms ensures consistency in examination and registration. Additionally, LTSA’s system will soon process the new form automatically, providing customers with final registration within 48 business hours from the time of submission. Look forward to more forms with Standardized Part 2 Terms.