Under O. Reg. 567/05, what must a written buyer representation agreement in Ontario show about when it ends?
Correct Answer
D) One expiry date, on page one, initialled
O. Reg. 567/05 s. 13.4 requires a written agreement with a buyer to set out clearly when it takes effect and when it expires, to display the expiry date prominently on the first page, and to have the buyer initial next to it. The agreement may contain only one expiry date. The regulation does not set any standard or maximum length; the term is negotiated.
Why This Is the Correct Answer
This is correct because s. 13.4 of O. Reg. 567/05 requires a single expiry date, displayed prominently on the first page, with the buyer's initials next to it. That is what the regulation requires about when the agreement ends.
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