Common use of Title Status Clause in Contracts

Title Status. The system shall provide the ability to check the status of the title when processing a title, vehicle or registration transaction and suspend the transaction based on business rules. 5.4.3.17 Title Owners: The system shall allow an unlimited number of owners on a title. 5.4.3.18 Seller Information: The system shall provide the ability to capture seller information (dealer / private seller) as well as date of purchase, purchase price, trade-in amount, etc. 5.4.3.19 Sales Tax Exempt: The system shall be able to differentiate vehicles by sales tax exempt status and use that information when assessing charges. Solution Requirements Section # Solution Requirements 5.4.3.20 Sales Tax Basis: The system must be able to determine sales tax based on valuation. Valuation is determined based on numerous things including, but not limited to method of sale (dealer or not), trade in, year, and type of vehicle. 5.4.4 Validate Customer / Documentation 5.4.4.1 Compliance Checks: The system shall be able to provide customer compliance checks for title transactions as defined by business rules. 5.4.5 Validate Vehicle Compliance