Vehicle Consignment Agreement

Shipping conditions: an indication of what the sender is willing to pay to the recipient when selling the vehicle. This can be a percentage of the sale price, a flat tax or a combination. Traders are required to provide a breakdown of the fee for z.B commission, administration, cleaning, storage, security, repairs, etc. An estimate of the selling price and a minimum selling price must also be disclosed. The shipping conditions must be initialled by the sender. OMVIC also recommends that recipients indicate whether a fee must be paid if the vehicle is not sold. Warranties: an indication whether the delivered vehicle is supplied with a warranty and warranty information such as warranty name, number of months and/or kilometers, warranty description and whether the warranty is transferable. A section on warranties is recommended by OMVIC, but is not imposed by regulation. The consignee does not have the right to transfer the registration of the vehicle from the name of the sender until the vehicle is sold in accordance with the consignment contract. However, consignees may obtain initial ownership of the consignor when the transit contract is concluded. 1.1 The signing of this contract by the owner and the dealer or a person authorized by the dealer means that an agreement has been concluded between the owner and the dealer for the sale of the vehicle, under the terms of this contract. Date of termination: if the confirmation contract is terminated Acceptance by the sender and the recipient: the signature of both parties confirming that they agree to receive a shipment on the basis of the conditions set out in the registration contract.

OMVIC recommends recognizing that the sender has the right to obtain a copy of the contract immediately after signing. Sections 45 and 46 of the regulations of the Act define what a merchant must include in a consignment contract with a shipper who is not a registered reseller. The following list contains the information required by the rules and information recommended by OMVIC. For more information on the consignment contract, see sections 45 and 46 of the regulations to www.e-laws.gov.on.ca. ATTENTION – If you have any concerns about this registration contract, you should first contact the recipient. If you have any doubts, you can contact OMVIC. You may be entitled to compensation under the Car Dealers Compensation Fund if you suffer a financial loss due to this shipment and the recipient is unable or unable to compensate for the loss. You may have additional rights under the law.

Please contact OMVIC at 1-800-943-6002 or by email at ]]>. 1.2 No agreement is concluded unless a copy of this contract is made available to the owner at the time of its signature by the owner and the merchant or by a person authorized by the merchant. A dealer who wishes to sell consignments must request that this condition be removed from the car dealership`s licence using the request form for withdrawal of the condition of registration. As a result of a consignment agreement, the shipper is entitled to the proceeds from the sale of his konsignation vehicle (including any purchase certificate that the consignee grants to the buyer) less the amounts communicated to the shipper in accordance with Article 45 (4) 10. Accordingly, any purchase vehicle or the proceeds of sale should be considered a fiduciary asset, to the extent necessary, in order to ensure that the dealer can fulfil its obligations to the consignor. Sale by shipment is governed by the Car Dealers Act, which requires dealers to use standard terms for their consignment purchase contracts – these are legal documents. Merchants also require merchants to create consignment trust accounts and control how those accounts are used. Vehicle Information: A description of the vehicle, including year, manufacture, model, colour, body type, storage number and FIN When a shipped vehicle is sold, section 58(5) of the regulation requires the recipient to “keep the amounts in trust until the end of the purchase”. .