Links to external sources have also been provided to support the comprehensiveness of certain definitions.
Is the same nine-digit Business Registration Number assigned to a business, incorporated company or society by the Canada Revenue Agency (CRA). The number identifies the business or organization when interacting with federal, provincial and local government programs and indicates that this business/company is registered to collect GST/HST on the goods/services they provide. The GST/HST# should be clearly identified on every supplier invoice that is charging GST/HST.
The operating name of a company, as opposed to the legal name of the company. An independent contractor sole proprietor, who operates under another business name other than their given name can be denoted as follows e.g. JOHN SMITH DBA Ontime Consulting Services.
Unless otherwise specified in the Purchase Order, all deliveries of Goods will be made on terms “DDP” (Delivered Duty Paid to a named place of destination), as that term is defined in the Incoterms 2010 published by the International Chamber of Commerce. As a result, the Supplier will bear all risks and costs, including duties, taxes and other charges, of delivering the Goods, cleared for importation, to UBC’s named destination.
A person acting as an independent contractor providing goods or services in exchange for a fee. They are not considered an employee of the University and do not receive employee benefits. They operate typically as a consultant under their given name as a sole proprietor. They do not do business under “business or company name” other than their given name; not a limited liability corporation or incorporated company.
IBAN is a standard way of identifying an account for the purpose of improving the efficiency and speed of cross border payments. An IBAN is required for payments to European.
The name of the entity that appears on all official documents or legal papers. It can be different to the supplier’s operating name.
This is NOT the supplier’s nine-digit CRA registered Business Number (BN) or GST / HST #. This is the supplier’s six-digit incorporation number that is typically referenced on incorporation papers. This proves incorporation status, but does not indicate that the supplier is registered with the CRA for tax purposes.
Residency status. You are a factual resident of Canada for tax purposes if you keep significant residential ties in Canada while living or travelling outside the country. The term factual resident means that, although you left Canada, you are still considered a resident of Canada for income tax purposes. See the following CRA website for more details.
Residency status. You are a factual resident of Canada for tax purposes if you keep significant residential ties in Canada while living or travelling outside the country. The term factual resident means that, although you left Canada, you are still considered a resident of Canada for income tax purposes. See the following CRA website for more details.
The sole proprietorship is the simplest business form under which one can operate a business. For these, one person performs all the functions required for the successful operation of the business and assumes all the liabilities. The sole proprietor is said to be self-employed. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.