The Code of Ethics is mandated through legislation with the Motor Vehicle Dealers Act, 2002 (MVDA). Each OMVIC Registrants (both dealers and salespersons) must adhere to the standards detailed in Code of Ethics and agrees to abide by its language and intent.
Section 6 of the MVDA requires dealers and salespeople to conduct business activity with honesty, integrity, financial responsibility and in accordance with law.
The purpose of the Standard of Business Practice is to assist Registrants by illustrating what is expected of them. The Standard of Business Practice attempts to illustrate the Code of Ethics by providing practical examples and by applying the standards of honesty and integrity in specific situations. These represent minimum standards and are illustrative rather than exhaustive.