Frequently Asked Questions
Answers to common questions about Century Services — our appraisal, auction, lending, and receivership services across Canada. Contact us at info@centuryservices.com if you have a question not listed here.
ABOUT CENTURY SERVICES
What does Century Services do?
Century Services provides appraisals, auctions and liquidations, and asset-backed lending services to the Canadian business and financial community. We work with bankruptcy trustees, receivership officers, lenders, and business owners to appraise, sell, and finance assets across Canada. We have been in operation for over 40 years.
Who are Century Services’ typical clients?
Our clients include bankruptcy trustees, receivership officers, financial advisors, secured lenders, private equity firms, and business owners navigating financial challenges. We also work with businesses looking to sell surplus equipment, real estate assets, or entire operations through auction or liquidation.
Where does Century Services operate?
Century Services operates across Canada. Our appraisal team covers North America, and our auction and liquidation services are available nationally. We are headquartered in Calgary, AB.
APPRAISALS
What types of assets does Century Services appraise?
Century appraises a wide range of industrial and commercial assets including heavy equipment, machinery, vehicles, real estate, inventory, and business assets. Appraisals are used for financing, mergers and acquisitions, insurance, bankruptcy proceedings, and receivership.
What is the difference between FLV, OLV, and FMV in an appraisal?
Forced Liquidation Value (FLV) is the amount assets are expected to sell for in a quick, time-constrained sale typically the lowest of the three values. Lenders often rely on FLV for secured lending decisions. Orderly Liquidation Value (OLV) assumes a reasonable timeframe to market and sell assets properly, producing a higher value than FLV. Fair Market Value (FMV) reflects what a willing buyer and a willing seller would agree on with no pressure from either side.
How long does an appraisal take?
Turnaround time depends on the volume and complexity of assets being appraised. In time-sensitive situations such as receiverships, Century can often expedite the process. Contact our appraisals team at appraisals@centuryservices.com to discuss your timeline.
Do you provide appraisals for insurance purposes?
Yes. Century provides appraisals for insurance valuation as well as for financing, mergers and acquisitions, and insolvency proceedings. Our appraisers are experienced across a broad range of asset classes and industries.
AUCTIONS & LIQUIDATIONS
How does the Century Services auction process work?
Century manages the full auction process from start to finish asset intake and cataloguing, photography and marketing, online and/or on-site bidding, buyer qualification, payment collection, and asset release. We run both consignment auctions, where individual sellers contribute assets, and full-scale liquidation auctions for entire businesses or estates.
What types of assets does Century auction?
Century auctions a wide range of commercial and industrial assets including heavy construction equipment, transportation fleets, manufacturing machinery, oilfield equipment, restaurant and hospitality assets, retail inventory, and commercial real estate. We handle both individual lots and full business liquidations.
Can I sell assets through Century without going to auction?
Yes. In addition to auctions, Century offers private treaty sales, negotiated sales, and other recovery strategies depending on the nature of the assets and the seller’s goals. Contact our team to discuss which approach best fits your situation.
How do I bid at a Century Services auction?
Century auctions are available online. Bidders register through our auction platform, review the asset catalogue, and place bids during the designated auction period. Visit centuryservices.com/auctions or contact auctions@centuryservices.com for current listings and registration details.
What is a consignment auction?
A consignment auction is a sale in which multiple sellers contribute individual assets into a single auction event. Sellers receive proceeds from their specific lots, less a consignment fee. This is a common option for businesses selling surplus equipment without needing a full liquidation process.
CAPITAL & LENDING
What is asset-backed lending?
Asset-backed lending is a form of financing where a loan is secured against the value of specific assets commonly equipment, inventory, real estate, or receivables rather than the borrower’s general creditworthiness. It is commonly used by businesses that may not qualify for conventional bank financing but have tangible assets of measurable value. Century provides asset-backed term loans across Canada.
What is DIP financing?
DIP stands for Debtor-in-Possession financing. It is a specialized form of lending available to companies that have filed for creditor protection under Canada’s Companies’ Creditors Arrangement Act (CCAA) or a similar insolvency process. DIP financing provides the company with operating capital while it restructures, and it typically carries super-priority status over existing debt. Century provides DIP financing structures to Canadian businesses in restructuring.
Who qualifies for Century’s lending products?
Century’s lending products are designed for Canadian businesses that require short-term capital where conventional financing is unavailable or too slow. This includes companies in financial distress, businesses undergoing restructuring, and time-sensitive situations where speed of execution matters. Qualification is primarily based on the value and quality of underlying assets. Contact mtaylor@centuryservices.com to discuss your situation.
How quickly can Century fund a loan?
Century emphasizes swift turnarounds and can move significantly faster than traditional lenders in time-sensitive situations. Exact timelines depend on the complexity of the deal and due diligence requirements. Reach out to mtaylor@centuryservices.com to discuss your timeframe.
What types of assets can be used as collateral?
Century accepts a broad range of tangible assets as collateral including industrial equipment, machinery, vehicles, real estate, and inventory. In some cases, Century will also consider receivables or other business assets. The key factor is that the assets have a verifiable, appraised value.
RECEIVERSHIP & INSOLVENCY SERVICES
What is receivership and how does Century Services help?
Receivership is a legal process in which a court-appointed receiver takes control of a company’s assets on behalf of a secured creditor when a borrower has defaulted. Century works with receivership officers and bankruptcy trustees to appraise assets, manage auction and liquidation processes, and maximize recovery value for creditors. We provide a comprehensive suite of services to support every stage of a receivership or insolvency.
What happens to assets during a receivership?
During a receivership, the receiver takes control of the company’s assets and works to realize their value for creditors. This typically involves appraising the assets to determine their value, then selling them through auction, private sale, or another recovery method. Century can support all of these steps — from initial appraisal through to final asset disposition.
What is a stalking-horse bid?
A stalking-horse bid is an initial offer made by a pre-selected buyer in a court-supervised sale process. It sets a minimum price floor and deal terms that other bidders must exceed. The process protects both the seller and the initial bidder while creating competitive tension that can increase the final sale price. Century can participate in stalking-horse bid structures to help maximize value recovery in insolvency situations.
Does Century Services provide management support to distressed businesses?
Yes. Century has a team of experienced management professionals who can assist companies facing financial challenges. This can include interim management support, operational oversight, and guidance through restructuring — typically as part of a broader funding or liquidation mandate.
Have a question not covered here?
Contact us at info@centuryservices.com — or reach the team best suited to your situation:
Appraisals: appraisals@centuryservices.com or aalberda@centuryservices.com
Auctions: auctions@centuryservices.com or aalberda@centuryservices.com
Capital & Lending: mtaylor@centuryservices.com