3. MANDATORY SERVICE CONTRACT DISCLOSURES - PART 1
UNDERSTANDING THE FINE PRINT - IDENTIFICATION OF THE PARTIES AND MANDATORY COVERAGE

RIGHT TO INSPECT: A prospective buyer has a right to read over any service contract (or brochure which specifically describes ALL terms) prior to purchase and receive a copy of it prior to purchase. Insist that you be given a copy of the contract to take home and review prior to buying it or find out what contracts or sold by a dealer before you go in to look at cars. A copy of the signed (by all parties) contract must be delivered to buyer within 60 days of purchase.

HOW THE PARTIES MUST BE IDENTIFIED IN THE CONTRACT:

• OBLIGOR: Their full corporate name (or ficticious name approved by Department), mailing address, phone number, license number, and additional contact information must be listed.
• ADMINISTRATOR: If the obligor uses an administrator their name and license number must be listed.
• INSURANCE COMPANY: The company that guarantees performance by the obligor must be listed along with a notice that the buyer has a right to file a claim with the insurance company if the obligor has not honored a claim within 60 days.

GENERAL INFORMATION- The contract must conspicuosly state the price, clearly identify the vehicle covered (usually by the Vehicle Identification Number), state the time/miles the vehicle is covered, and whether the contract can be transferred to the vehicle's next buyer (if any).

COVERAGE- Every obligor is required by law to provide all parts and labor required to keep the vehicle in good working order for normal use for the duration of the contract at no extra charge UNLESS otherwise expressly stated in the contract as an EXCLUSION. The contract must state any additional services and whether the nature and frequency of any preventive maintainance that is provided.