Important information for businesses licensed for consignment

Effective Sept.1, 2018, businesses licensed for consignment now must provide AMVIC $300,000 in security. The security can be in the form of cash, irrevocable standby letter of credit or surety bond.

To ease the impact of the new requirement for businesses licensed for consignment before Sept. 1, 2018, there is an incremental transition plan. For licence renewals beginning Sept. 1, 2018, the following securities are required to be in place before renewal:

  • For licence renewals beginning Sept. 1, 2018, a business that was licensed for consignment prior Sept.1, 2018 and has $50,000 security in place will need to increase the security to $100,000 prior to renewal of the consignment licence.
  • For licence renewals beginning Sept. 1, 2018, a business that was licensed for consignment prior Sept.1, 2018 and has $100,000 security in place will need to increase the security to $200,000 prior to renewal of the consignment licence.
  • For subsequent licence renewals, security will need to be increased by $100,000 prior to renewal until $300,000 is reached.

Alternatively, businesses licensed for consignment can:

  • Increase the amount of security to $300,000 immediately, or
  • Remove consignment from licensed activities.

Licensed businesses that cannot provide the required security will not meet the requirements for consignment sales. These businesses will not be permitted to conduct consignment sales in Alberta.

Please call AMVIC’s licensing department at 1-877-979-8100 ext. 2001 for more information.