Record-keeping

  • Bailiffs and assistant bailiffs must submit financial statements when requested by the Registrar.

Trust accounts and trust funds

  • Bailiffs must maintain a separate trust account in the exact name of the company as it appears on your appointment and name the account “Bailiffs Act – Trust Account”.
  • Bailiffs must deposit all money received on behalf of other people, minus any lawful fees or charges into the trust account.
  • Before the 15th of each month, bailiffs must report to the rightful owners of any money held in-trust during the previous month and pay them the money, minus any legal fees and charges.
  • Within six months of a bailiff depositing money in the bailiff’s designated trust account, the bailiff must make every effort to locate the person entitled to the money. Any unclaimed trust money must be paid to the Treasurer of Ontario and Minister of Finance, who may pay the money to any person who satisfies the Treasurer about their entitlement.