In a related context, the CBE set new protocols for banks operating with companies engaged in the funding of instalment sales.
It stressed that banks must ensure that shops, commercial outlets, companies operating in the field of funding of instalment sales, which provide payment facilities for the purchase of consumer goods, and car companies, must apply the 35% rate when dealing with their customers.
GWC Warranty, a provider of vehicle service contracts sold through automotive dealers, has collaborated with Nicholas Financial, a provider of direct consumer loans and instalment sales
contracts from automobile dealers for used cars and light trucks.
Annual growth in instalment sales
decreased slightly in March after a significant increase in February.
Financial Federal Corporation is an independent financial services company specialising in financing construction, road transportation and refuse equipment through instalment sales
and leasing programmes for dealers, manufacturers and end users nationwide.
Conditional sales (sales where possession of property is transferred but ownership passes only after certain conditions are fulfilled, for example on full payment of the purchase price by the recipient), and instalment sales
, (sales where the ownership of the property transfers immediately, but the property is paid for in instalments), are both "sales" for the purposes of the override rule.
Partly because of the need to review recent amendments to the Civil Code of Quebec that indicate that the National Assembly is at last beginning to understand the various ways in which title can be deployed as security, Payette devotes considerable attention in this edition to regimes governing the security trust, instalment sales, the finance lease, and the sale with a right of redemption (nos.
The "Avant-propos" states, modestly, that his aim has been to update the first edition with references to cases, doctrinal sources, and his own research dossiers, as well as to discuss legislative amendments that have more fully integrated the security trust and the instalment sale into the overall logic of secured transactions.