DMV/VERIFI Tip of the Week, #73
Acceptance, Rejection & Cancellation of Wholesale Transfers
In VERIFI, the purchasing dealer must “accept” a transfer each time they purchase a vehicle from another NYS dealer. It’s critical that the purchasing dealer review and confirm the accuracy of all information BEFORE accepting the transfer.
Purchasing dealers should only accept a transfer after the vehicle and the paperwork have been received and reviewed. If errors are found during this review, the purchasing dealer can simply reject the transfer and advise the selling facility to make required corrections in VERIFI.
A dealer cannot reject a transfer after they’ve accepted it. However, VERIFI will allow a purchasing dealer to cancel a wholesale transaction after acceptance when no information has been modified. If the purchasing dealer modifies any data fields (other than “Stock Number/SKU/Lot Number” or “Remarks”), the transaction can no longer be cancelled by the purchasing dealer. This feature is an integrity control and exists to protect to all dealers.
Below are some helpful links on the topic: