Arizona Laws 28-4420. Contents of brokering agreement
A brokering agreement shall contain the following terms, conditions, requirements and disclosures:
Terms Used In Arizona Laws 28-4420
- Broker: means a person who for any fee, commission or other valuable consideration offers to provide, provides or represents that the person will provide a service of arranging or assisting in effecting the purchase of a motor vehicle and who is not:
(a) A new motor vehicle dealer or an employee or agent of a new motor vehicle dealer. See Arizona Laws 28-4301
- Dealer: means a person who is engaged in the business of buying, selling or exchanging motor vehicles, trailers or semitrailers and who has an established place of business and has paid fees pursuant to section 28-4302. See Arizona Laws 28-101
- Department: means the department of transportation acting directly or through its duly authorized officers and agents. See Arizona Laws 28-101
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Line-make: means those motor vehicles that are offered for sale, lease or distribution under a common name, trademark, service mark or brand name of the manufacturer of those same motor vehicles. See Arizona Laws 28-4301
- Motor vehicle: means an automobile, motor bus, motorcycle, truck or truck tractor or any other self-propelled vehicle, trailer or semitrailer. See Arizona Laws 28-4301
- Retail consumer: means any person purchasing, leasing or acquiring or possibly purchasing, leasing or acquiring a vehicle or product, service or financing not for resale. See Arizona Laws 28-4301
- Service: means any service that is sold, leased or provided to retail consumers and that directly relates to the ownership or leasing of a new or used motor vehicle, including extended service contracts or motor vehicle warranty and nonwarranty repairs or maintenance, including both parts and labor. See Arizona Laws 28-4301
1. The name, address, license number and telephone number of the broker.
2. A complete description, including line-make, model, year and color of the motor vehicle and the desired options.
3. The following statement:
The following information shall be completed before the signing of this brokering agreement:
(a) The dollar purchase price of vehicle: _______________.
(b) The date this agreement will expire if a purchase agreement from a selling dealer is not presented for your signature: ___________________________.
(c) The fee that you are obligated to pay, if any: _________________.
4. A notice that is printed in conspicuous type, that is placed immediately below the statement required by paragraph 3 and that states whether or not a fee is received from the selling dealer.
5. The following notice on the face of the brokering agreement in conspicuous type, circumscribed by a line, that reads as follows:
Notice
This is an agreement to provide services. This is not an agreement for the purchase of a vehicle. Arizona law gives you the following rights and protection:
Once you have signed this agreement, you have the right to cancel it and receive a full refund of any monies paid, including any brokerage fee you may have paid, under any of the following circumstances:
(a) The final price of the vehicle exceeds the purchase price listed above.
(b) The vehicle is not as described above on delivery.
(c) This agreement expires before you are presented with a selling dealer’s purchase agreement.
If you have paid a purchase deposit, you have the right to receive a refund of that deposit at any time before you sign a vehicle purchase agreement with a selling dealer. Purchase deposits are limited by law to no more than 2.5 per cent of the purchase price of a vehicle. If you are unable to resolve a dispute with your broker or auto buying service, please contact an investigator of the department of transportation.
6. The date the agreement is executed.
7. The signature of the broker and the retail consumer.