WAC 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.