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Dealers are required to ensure
warranty contracts comply with
all requirements under the new
Motor Vehicle Dealers Act (MVDA).
An extended warranty is a
contract whereby a person, other
than a motor vehicle
manufacturer, agrees to provide
coverage of the costs associated
with the repair or replacement of
components of a motor vehicle,
including the labour necessary to
repair or replace those
components, that is in addition
to a warranty supplied by law or
implied by the operation of law.
Dealers can only sell extended
warranty products that are
insured, or for which a letter of
credit to the Compensation Fund
has been provided.
Note: Letters
of credit are drawn against in
the event of a failure of the
extended warranty provider which
results in claims to the
Compensation Fund. If the
extended warranty provider is no
longer in business and the letter
of credit is exhausted dealers
are responsible for any
Compensation Fund claims paid out
over and above the letter of
credit. As a result, dealers need
to make inquiries with their
warranty providers on a frequent
basis to check on the status of
their security or insurance.
The following list is provided
as a courtesy to dealers to
assist them with compliance under
the new MVDA requirements set out
in Regulation 47. OMVIC
does not regulate extended
warranty providers nor will OMVIC
recommend any particular extended
warranty provider.
SECURED -
LETTER OF CREDIT ON FILE
1159274 Ontario Ltd. o/a Bayview
Auto Sales and
Leasing/AAAP Warranty
1230906 Ontario Ltd. o/a Automax
Centre
1353974 Ontario Inc. o/a Newstart
Canada
1393151 Ontario Ltd. o/a Be Safe
Warranty
1552799 Ontario Inc. o/a Suzuki
of Newmarket
1716858 Ontario Inc. o/a
Cambridge Kia
1757259 Ontario Inc. o/a Canadian
Auto Warranty
A-Protect
Auto Motion Used Vehicles Inc.
Coast to Coast Warranty
Corporation
Chris Taylor
Auto Sales Ltd. o/a Automaxx
Pre-Owned Car Centre
Davey Auto Sales Ltd.
First Canadian/Millenium
Haishang Investments Ltd. o/a
Haishang Auto Sales
Haldimand Motors Ltd.
Lafreniere Auto Sales & Service Ltd.
Mark Wilson's Better Used Cars
Limited
My Car Deal Online
NAAWA Corp (Autogard)
Rideau Valley Motors Inc. o/a My
Car/RVM Simply The Best Warranty
SAL Marketing Inc.
Wright Auto Sales Inc.
SECURED -
INSURED THIRD PARTY WARRANTY
COMPANIES
Automobile Protection Corporation
(Easy Care)
Coast to Coast Dealer Services
Cornerstone United Ltd.
CoverageOne
Global Warranty
INDS CANADA Corp.
Integrated Warranty Systems Inc.
Lubrico Warranty
Lyndon-DFS Administrative
Services Inc. (Protective-Asset Protection Division)
Nationwide Auto Warranty
Corporation
Omni Warranty
Corp.
People's Choice Warranty
Premier Dealer Services (Tricor
Automotive Group)
Note:
This list is deemed accurate as
of June 30, 2011.
Changes may occur in the meantime
so dealers should confirm the
status of their extended warranty
providers directly and
periodically.
Extended
Warranty Disclaimer
The companies above have
provided the Ontario Motor
Vehicle Industry Council
("OMVIC"), with sufficient
evidence of full insurance from
an insurer licenced under the
Insurance Act in accordance
with subsection 47 (1) (a) of the
Motor Vehicle Dealers Act,
2002 (the "MVDA 2002"), or
have provided the Motor Vehicle
Dealers Compensation Fund with an
irrevocable letter of credit as
set out in subsection 47 (1) (b)
of the MVDA 2002. Please note an
issuer of a letter of credit may
have the option not to renew the
letter of credit upon 30-90 days
written notice.
It is the
responsibility of the Registrant
selling the extended warranty to
ensure the warranty complies with
section 47 of the MVDA 2002 and
all other applicable laws. This
list does not include, and
Registrants are reminded not to
sell extended warranties, that
are only administered by a third
party and for which a letter of
credit has not been posted by the
selling dealer.
The list above is provided by
OMVIC as a courtesy only and is
current as of June 30, 2011. OMVIC does not
make any representation or
warranties of any kind whether
express, implied, statutory or
otherwise with respect to the
extended warranties listed above
and takes no responsibility for
any claims, products, or services
offered by the vendors of the
extended warranties. Please
direct any related questions to
said vendors. In no event shall
OMVIC be liable for any claims
loss, demands or damages of any
kind whatsoever with respect to
the service, the material and the
products offered by the vendors
of the extended warranties
including without limitation,
direct, indirect, incidental or
consequential loss or damages,
whether arising from loss of
profits, loss of revenue, and
whether or not the possibility of
such loss has been notified to
OMVIC. The foregoing will apply
whether such claims, loss or
damages arise in tort, contract,
negligence, under statute or
otherwise. For more information
please contact OMVIC.
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