In the realm of motor vehicle transactions and legalities, forms such as the South Carolina Department of Motor Vehicles Financial Responsibility Agreement and Release FR-229 play a pivotal role in resolving disputes and formalizing agreements between parties involved in vehicle accidents. The FR-229 form, specifically, is instrumental in instances where financial responsibility and accountability need to be documented following an automotive collision. This document facilitates an agreement between two parties, identified as the party of the first part and the party of the second part, wherein financial compensation is agreed upon to cover damages resulting from the incident. Furthermore, the form outlines the procedure for the deposit and release of funds held by the South Carolina Department of Motor Vehicles, acting as a mediator to ensure compliance with the agreed terms. Additionally, it serves as a binding release, absolving both parties of further claims related to the accident upon fulfillment of the stipulated conditions. The FR-229 form requires detailed information about the accident, such as the case number, date, and location, alongside personal information and signatures from both parties, witnessed and authenticated by a notary public. It underscores the importance of legal documentation in mitigating potential disputes and fostering resolution, illustrating the intricacies of financial responsibility in motor vehicle incidents within the jurisdiction of South Carolina.
| Question | Answer |
|---|---|
| Form Name | Dmv Form Fr 229 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | fr 229 south carolina department of motor vehicles form |
South Carolina Department of Motor Vehicles Financial Responsibility Agreement and Release
(Rev. 8/06)
ACCIDENT CASE NO.: _________________________________ DATE OF ACCIDENT: _____________
LOCATION/COUNT: _____________________________________________________________________
DRIVERS: _____________________________________________________________________
This agreement and release entered into this _______ day of ________ by and between ______________________________
of the county of ______________________ , State of South Carolina, hereinafter known as the party of the first part, and
___________________________________ of the county of _____________________ hereinafter known as the party of the
second part, witnesseth:
1.Know all men by these presence that for and in the consideration of the payment to the party of the second part by the party of the first part the sum of ____________________________, which is now on deposit with the South Carolina Department of Motor Vehicles, and the agreement of the party of the second part to accept this said amount in full and final settlement of any and all claims for damages that the party of the second part has against the party of the first part as a result of the vehicle owned by the party of the second part having been struck and damaged by a vehicle driven by the party of the first part at the time of the above numbered and dated accident. The parties hereto do each hereby release each other from any and all claims, liabilities, or causes of action which the parties hereto may have as a result of the above numbered and dated accident.
2.The party of the first part does hereby direct and authorized the South Carolina Department of Motor Vehicles to pay to _________________________________________ the sum of ___________________ which amount has been deposited by the party of the first part with the said South Carolina Department of Motor Vehicles as security to pay for the damages resulting from the above numbered and dated accident.
3.The parties hereto do each hereby bind each of themselves and each of their heirs, executors and administrators to the faithful performances of all the terms, basis, and conditions of this agreement and release.
Witness the hands and seals of the parties on the date and year above written.
Signed, sealed, and delivered in the presence of:
__________________________________________ |
__________________________________________________ |
|
|
Party of the first part |
|
__________________________________________ |
____________________ |
_____________________ |
|
Driver’s License No. |
Date of Birth |
__________________________________________________
Party of the second part
Personally appeared before me _________________________________ and ______________________________________
known to me to be the persons whose names are subscribed to the foregoing instrument and which persons have under oath acknowledged to me that they have executed the same for the purposes therein expressed.
Sworn to and subscribed before me
this ____________ day of ______________ 20 ____
__________________________________________ __________________________________________________
Notary Public
__________________________________________ __________________________________________________
Print Name of Notary Public
__________________________________________
RETURN TO: SCDMV
Commission Expires
Financial Responsibility
PO Box 1498
Blythewood, SC