Protection after Payment

smithcvs

I am about to purchase a new car and have to pay by building society cheque 8 days in advance for it to clear the banking system. Is there a letter template or advice that I can get the dealer to sign to ensure that I do not lose everything should he become insolvent during the 8 day period.
It sounds a bit over the top, but Woolworths and Allied Carpets comes to mind.

The_Pedant

I haven't seen anything like that before for payments.
I suppose this is similar to providing good before payment, where the good remain the property of the seller, until payment in full is received. In your case however, you would need to something along the lines of stating that you retain title to those funds, until collection of the agreed vehicle on the appropriate date.