The Trade Licence Unit (TLU) of the Ministry of Trade and Industry (MTI) has noted an upsurge in the number of reported cases of members of the public being defrauded of their monies while attempting to obtain foreign-used vehicles, such as cars (SUVs, sedans and station wagons), pick-up trucks, panel vans and trucks.
As the regulator of the foreign-used car industry in Trinidad and Tobago and the agency responsible for the issuance of licences to facilitate the import of these vehicles, the Trade Licence Unit is advising the public to be vigilant and get familiar with ALL the requirements and procedures to import or purchase a foreign-used vehicle. While members of the public are allowed to import foreign-used vehicles for their personal/commercial use, the MTI strongly recommends that persons utilize, as far as possible, the services of a Registered Foreign Used Car Dealer, as such entities have undergone strict compliance requirements and are actively monitored by the Trade Licence Unit. To assist in making informed decisions that can help to avoid fraud risks when purchasing foreign-used vehicles from a REGISTERED FOREIGN-USED CAR DEALER, the following is recommended:
When importing vehicles directly from a FOREIGN SUPPLIER, consumers should:
Consumers may visit www.tradeind.gov.tt/tlu or the Trinidad and Tobago Trade Portal at https://info.ttbizlink.gov.tt to access information on requirements and procedures to import or purchase a foreign-used vehicle. [Source: Ministry of Trade and Industry] We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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