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"Point in Time" Regulation Content

Motor Dealer Act

Motor Dealer Consignment Sales Regulation

B.C. Reg. 101/95

 Section 4 (2) BEFORE amended by BC Reg 200/2017, effective January 1, 2018.

(2) The purchase agreement must contain all of the following information:

(a) a complete description of the motor vehicle being purchased;

(b) the total price, including, as applicable, the down payment, the value of any trade-in and any administration fee or other fees;

(c) a statement that the motor vehicle is on consignment;

(d) a statement that any cheque, bank draft or money order received from the purchaser in payment for the consigned motor vehicle must be made payable to the trust account of the motor dealer by identifying the trust account in the manner that the trust account is identified in the records of the savings institution.