What must I do before I enter into a covered transaction with another person at the next lower tier?

Checkout our iOS App for a better way to browser and research.

§ 1471.300 What must I do before I enter into a covered transaction with another person at the next lower tier?

When you enter into a covered transaction with another person at the next lower tier, you must verify that the person with whom you intend to do business is not excluded or disqualified. You do this by:

(a) Checking the EPLS; or

(b) Collecting a certification from that person if allowed by this rule; or

(c) Adding a clause or condition to the covered transaction with that person.


Download our app to see the most-to-date content.