Whether or not the consignor is a registered dealer, the dealer must ensure that the consignment contract is in writing and is signed by both the dealer and the consignor.
If the consignor is “an individual exempt from registration” (for example, an individual consigning their personal or family car, a lawyer winding up an estate, etc.), the contract must show in a clear, comprehensible and prominent manner:
- Consignor’s name and address.
- Dealer’s registration number and registered name (and legal name if different from registered name).
- The make, model, trim level, model year, colour, Vehicle
Identification Number (VIN) and body type of the vehicle.
- If the vehicle is a used vehicle, the total distance that the vehicle has been driven (if the dealer can determine the distance).
- If the vehicle is a used vehicle and the dealer cannot determine the total distance that the vehicle has been driven, but can determine a distance the vehicle has been driven as of some past date, a statement of that distance and date, together with a statement that “the total distance the vehicle has been driven is believed to be higher.”
- If the vehicle is a used vehicle and the dealer cannot determine the total distance the vehicle has been driven, or a past distance/date, a statement that “the total distance the vehicle has been driven is unknown and may be substantially higher than the reading shown on the odometer.”
- The total amount that the dealer will charge the consignor on the sale of the vehicle (whether as a fixed amount or a commission share), and an itemized list of all components of those charges.
- An estimate of the selling price of the vehicle and a minimum selling price of the vehicle.
- The term of the contract (and if applicable, how parties can extend it, or a statement they cannot extend it).
- If the contract can be terminated before its term expires, the conditions regarding such early termination (including fees, if any, payable for early termination).
- All restrictions, limitations, conditions and other obligations imposed on the consignor under the contract (stated in a clear, comprehensible and prominent manner).