OMVIC launches non-traditional business model guideline to support registrants
- Published On
- December 1, 2022
As the automotive industry has evolved over the last few years, an abundance of new business models have emerged. Many of these new non-traditional models have never been addressed through legislation or regulation. As a result, OMVIC has released a guideline that provides registrants greater clarity around what constitutes a non-traditional business model and how to comply with the required legislation.
OMVIC worked with registrants to assess what guidance was needed to ensure they understood the resources and tools available to them. This guideline reflects the input received.
What does this guideline contain?
In summary, the non-traditional business models guideline states:
- All registrants, including those that follow a non-traditional business model, must comply with the MVDA and its regulations, including the Code of Ethics, as well as the Consumer Protection Act, and any other relevant legislation.
- The registrar can request additional information from prospective registrants if the registrar believes that this additional information is required to help OMVIC determine the applicant’s eligibility for registration.
- Registrants are also subject, in certain cases, to terms and conditions imposed by the registrar.
- A definition of what constitutes a non-traditional business model.
OMVIC will be hosting an informational webinar to address any questions or comments on Monday, December 5th at 12:00 p.m. Click here to register through Zoom.
Note: This information was created to assist dealers/salespeople and is not a legal document. Registrants are encouraged to obtain independent legal advice.
The dealer support team is available to assist dealers in achieving and maintaining compliance with the MVDA. Please contact dealer support at email@example.com or by calling 1-800-943-6002 and leave a message if you have any questions or concerns. Messages are returned in a priority sequence.