News in 2012

When Florida’s new Electronic Lien and Title (ELT) regulation goes into effect January 1, 2013, ADD will have you covered with the easiest and most cost- effective way to comply! Under Florida statutes s. 319.27 and s. 328.15, next year an Electronic Lien and Title process will become mandatory for Buy-Here, Pay-Here dealers, finance companies, and any business that finances vehicles and vessels. ADD’s easy-to-use ELT system will be integrated into your current account dashboard. All you’ll need to do to get started is complete the required DHSMV forms, which are available on ADD’s website.

The Florida ELT system will allow lienholders to reduce the handling, storage and mailing costs associated with paper titles by replacing them with electronic titles. Transitioning to an electronic system will reduce title fraud and provide you, the lienholder, with faster notification of lien satisfactions. The implementation of an ELT system simply means that when a title is ready to be issued, instead of issuing a paper title certificate, an electronic notification will be sent to the lienholder. The title will remain electronic until a request for a paper title is received, rather than being printed automatically.

ADD will keep you posted as we near the implementation date. We’re recommending that lenders get their paperwork to ADD as soon as possible to avoid the rush once the system becomes mandatory. You can find all the forms you’ll need to get set up at www.ADD123.com/elt .

As always, you can count on ADD to provide an efficient and effective tool delivered with the best live customer service available! Questions? [ Email us](mailto:info@add123.com?subject=ELT e-News Article) or call one of our live customer service representatives at 850-877-8804.