Delay in car delivery-penalties auto policy 2021 2026 and SRO 8371 2021

Under the Law if a customer makes payment of the vehicle at the time of booking, you and your dealer are required to make delivery of the customer within 60 days of the booking. In case of a delay in car delivery, the following are the penalties under the law, which are required to be paid by the car manufacturer / assembler:- 

“The importer-cum-assembler or Original Equipment Manufacturer (OEM) shall pay KIBOR+3 per cent per annum to the customer against late delivery exceeding 60 days of initial booking on the whole of the deposited amount. Statement/details of reimbursement at KIBOR+3 per cent against deliveries beyond 60 days shall be submitted to EDB or Input-output Coefficient Organization (IOCO).” Such penalties serve as a deterrent against delays in car delivery, making it necessary to avoid any delay in car delivery.

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Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com