Under TRESA's general regulation, what must a written buyer representation agreement show about when it ends?
Correct Answer
B) One expiry date, shown prominently on page one and initialled by the buyer
O. Reg. 567/05 s. 13.4 requires the agreement to set out clearly the date it takes effect and the date it expires, to display the expiry date prominently on the first page, and to have the buyer initial next to it; s. 13.4(2) allows only one expiry date. The regulation sets no maximum term such as six months.
Why This Is the Correct Answer
Section 13.4(1) requires the effective and expiry dates to be set out clearly and prominently, the expiry date to appear prominently on the first page, and the buyer to initial beside it. Section 13.4(2) requires the agreement to contain only one expiry date.
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