2020Directory_FNL_FlippingBook

Dealership Compliance Dealers face multiple state, local and federal laws regulating their dealerships. Even keeping proper records can be a challenge. GNYADA offers dealers compliance solutions through seminars, webinars and workshops in addition to providing other hands-on reference compliance materials. Throughout the year, GNYADA gathers industry specialists to hold educational seminars that helpmembers comply with often complicated regulations affecting every aspect of dealership operations. Covered topics include sales tax rules, DMV Regulations, privacy, identity theft, OSHA’s Hazard Communication, franchise law, and employment law. GNYADA also hosts special programs for dealers in their region. Dealer Facility Licensing GNYADA assists dealers through the arduous licensing/amendment process. Operating franchised dealerships in New York requires dealers to follow numerous DMV rules and requirements along with complex tax issues. Plus, additional paperwork is needed when operating within New York City limits. Completing and submitting the application correctly and attaching the proper documentation and fees is mandatory. GNYADA’s experience and contacts help guide both first-time New York dealers as well as established dealers through the system. Surety Bonds New York State Department of Motor Vehicles Law Section 415 requires new car dealers to have a $50,000 surety bond to secure or maintain their facility licenses. The Association assists dealers with surety bonds, out-of-state bonds, DCA bonds, Utility bonds, Games of Chance Bonds, ERISA bonds and others. Since the program began, over 1,000 bonds have been secured for dealerships. GNYADA secures bonds through the “A” rated Selective Insurance at very reasonable rates. New car dealer bonds cost $300 and are valid for two years. GNYADAmembers can also purchase $20,000 or $100,000 Used Car Bonds for their separate Used Car facilities at a discount. These are also valid for two years. The Association’s bonds feature: • Simple application

SERVICES FOR DEALERS 2020 MEMBERSHIP DIRECTORY & SERVICES GUIDE

• No required financial statements • 24-hour turnaround, when needed • Amendments to name and address at no additional charge • No credit checks for you OR your spouse on new car bonds • Flat rate pricing • Automatic renewal

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