What does the exemption from the three guarantees for parallel-imported vehicles mean?
1 Answers
Parallel-imported vehicle three-guarantee exemption refers to a disclaimer agreement where dealers require vehicle owners to waive their right to claim compensation when quality issues arise with the vehicle. After the introduction of the automotive three-guarantee law, parallel-imported vehicles are required to purchase compulsory quality assurance insurance for the three guarantees when issuing invoices. However, some parallel-imported vehicle dealers may not require the purchase of the three guarantees when issuing invoices but will instead ask owners to sign a disclaimer agreement. This agreement states that the owner waives the right to claim compensation if quality issues arise with the vehicle. The full name of parallel-imported vehicles is parallel trade imported vehicles, abbreviated as parallel trade vehicles, meaning cars purchased by traders from overseas markets and introduced into the Chinese market for sale without authorization from the brand manufacturers.