OMVIC Compensation Fund Form – Sworn Statement / Affidavit of Claimant

Key Takeaways

• The OMVIC Motor Vehicle Dealers Compensation Fund is a consumer protection program in Ontario that offers financial assistance in cases where vehicle purchases or lease agreements go awry.
• Consumers may be eligible to receive as much as $45,000 per vehicle transaction if they meet one or more eligibility criteria and file a valid claim within two years of the incident.
• Before filing a Compensation Fund Application Package and supporting documents, a consumer must first try to resolve the issue with the registered dealer.
• OMVIC staff review all claims before passing the eligible applications to the Board of Trustees for the final decisions.
• Applicants can complete the OMVIC Compensation Fund Form – Sworn Statement/Affidavit of Claimant using NotaryPro’s online notary services.

What is a OMVIC Compensation Fund Form? 

The Motor Vehicle Dealers Compensation Fund, referred to as the Compensation Fund, is a consumer protection program financed by Ontario’s registered motor vehicle dealers.

If something does go wrong with a motor vehicle purchase or lease agreement, consumers have access to the Compensation Fund which provides financial assistance to consumers who make a valid claim for a vehicle transaction against an OMVIC-Registered Dealer.

Consumers who are eligible for compensation may qualify for up to $45,000 per vehicle transaction. In order to qualify, consumers must meet one or more of the eligibility criteria and the claim must be submitted within two years.

How to make a claim? 

It is important for a consumer to first contact the registered dealer in attempt to work out a reasonable solution. If the issue remains unresolved, the consumer may be eligible to make a claim to the Compensation Fund.

• Completion and submission of the Compensation Fund Application Package and supporting documents
• OMVIC staff review the application to ensure it is complete and meets the eligibility criteria
• At scheduled meetings, the Board of Trustees reviews the application for compensation

Getting your OMVIC Compensation Fund Sworn Statement / Affidavit of Claimant

NotaryPro can digitally commission the OMVIC Compensation Fund Form – Sworn Statement / Affidavit of Claimant. You can read more about the OMVIC Compensation Fund here.

You can download the OMVIC Sworn Statement / Affidavit form.