If your project passes the due diligence assessment, we will work with you to determine terms and conditions for the funding you may receive and create the Term Sheet and the Contribution Agreement.
Term Sheet
As the foundation for the Contribution Agreement, the Term Sheet outlines the terms and conditions of Strategic Response Fund (SRF) funding.
The terms and conditions include the benefits the project will generate for Canadians, such as:
- job creation in Canada
- research and development (R&D)
- capital investments
- reduction of greenhouse gas (GHG) emissions
- gender, diversity and equity targets
- preservation of intellectual property (IP) ownership in Canada
The Term Sheet is submitted to the Minister of Innovation, Science and Economic Development Canada for approval.
Contribution Agreement
Once the project is approved by the Minister, SRF will prepare a Contribution Agreement to formalize the contribution.
At this stage, you would no longer be referred to as a SRF "applicant" but as a "recipient."
This document outlines both the department's and your legally binding responsibilities and obligations.
For a company incorporated in Canada or a partnership carrying on business in Canada, a Contribution Agreement can span 20 years or more. This includes monitoring the project benefits.
The Contribution Agreement outlines the:
- reporting requirements
- schedule of repayments
- proposed benefits to Canadians
- funding terms and conditions
- consequences of the agreement terms not being met
- obligations of both the recipient and the Government of Canada