Wash. Admin. Code § 308-66-175

Current through Register Vol. 24-21, November 1, 2024

Section 308-66-175 - Buyer's agent - Standard disclosures

Must a buyer's agent disclose their activities? The written agreement between a buyer's agent and its customer shall contain precisely the following disclosure language in a single paragraph on the first page of the agreement, in a type size sufficiently large to be read with reasonable ease:

NOTICE to customers concerning the nature and scope of BUYER'S AGENT activity. A licensed bonded vehicle dealer may act as a buyer's agent to arrange for you to purchase a new vehicle.

1.Your agreement with the buyer's agent must:

	Be in writing.
	Set forth the terms of the agreement.
	Disclose total fees or other compensation to be received from you.
	State whether or not any portion of the fee is refundable.

2.While arranging for you to purchase your new vehicle the buyer's agent must NOT:

	Receive or pay any vehicle purchase moneys.
	Sign any vehicle purchase order, contract, odometer statement or title document.
	Have the name of the buyer's agent appear on the purchase order, sales contract or title.
	Sign any other document relating to the purchase, sale or transfer of the new vehicle.
	Use a power of attorney (POA) to do any of the above prohibited acts. However, the buyer's agent may use a POA to deliver the license plates to the customer.

3.The buyer's agent must NOT:

	Pay to or receive from a dealer any purchase moneys, fees, gratuities or rewards.
	Claim or state that the buyer's agent offers, obtains or guarantees the lowest price.
	Arrange for a new vehicle through an out-of-state dealer without disclosing to the customer in writing that the vehicle will not have Washington state lemon law coverage.

Wash. Admin. Code § 308-66-175

Statutory Authority: RCW 46.70.160. 04-16-090, § 308-66-175, filed 8/3/04, effective 9/3/04. Statutory Authority: RCW 46.70.180(13) as amended in 1995 by SHB 2179. 96-24-041, § 308-66-175, filed 11/27/96, effective 12/28/96.