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Use this template to prepare a Notice to Account Debtor of Default of Principal Debtor, for use in Canada.This form of notice is given by a secured party (lender) to an account debtor) a party who owes money to a borrower) of the borrower / principal debtor's default in payment to the lender. The notice advises the account debtor to pay its debt to the lender instead of the borrower.This Canada Notice to Account Debtor of Default by Principal Debtor form is a downloadable Microsoft Word file.