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MVDA Requirements for Contracts

The MVDA sets out specific details and information that must be included in every vehicle sale or lease contract with a customer. As well, the Act stipulates advisory or educational statements which must be included in contracts. These statements are designed to ensure customers fully understand their rights and obligations, to inform purchasers of the existence and role of OMVIC, the Compensation Fund and CAMVAP, and to help eliminate the common misperception of a “cooling-off period.” The Act even stipulates the type and size of font that must be used in these statements.

All required disclosures must be made in a “clear, comprehensible and prominent manner,” as per the MVDA General Regulations and the Consumer Protection Act.