Purchasing a Business

If you purchase an existing business, there are some important WCB considerations you should be aware of.

The seller should provide you with a Disposition of Business Enterprise Certificate which they obtain from the WCB.  This certificate confirms there is no outstanding debt with the WCB.  If you do not secure this, you may be responsible for any monies owing on the seller's account.

If you will be operating the business in substantially the same form as the seller, their claim experience and rate will likely be assigned to you.  This may be of benefit to you if the seller has had good experience and earned rate reductions as a result.  However, if their claim experience has been poor, the rate you could adopt could reflect that.

Please contact the Assessment Services Department for more information.

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