Document background
The Employee Security Deposit Agreement is essential for Canadian businesses that require security deposits from employees who are entrusted with valuable company assets, equipment, or resources. This agreement is particularly relevant when employees are given access to expensive tools, technology, vehicles, or other company property that requires financial security. The document must comply with Canadian federal and provincial employment standards legislation, particularly regarding wage deductions and employee rights. It should be used when onboarding new employees or when existing employees are assigned responsibility for valuable company assets. The agreement includes specific provisions for deposit amount, payment terms, conditions for deductions, and return procedures, all while ensuring compliance with Canadian employment law requirements.
