SCDMV Form FR-202. Release of Financial Responsibility for a Collision

This form is used to release the financial responsibility of an individual involved in a collision. It is typically used when the individual involved in the collision has provided proof of financial responsibility, such as insurance coverage. By completing this form, the individual acknowledges that they are releasing their financial responsibility for any damages or injuries related to the collision.

The form consists of several important fields, including the name of the individual releasing financial responsibility, their contact information, the date of the collision, and a statement indicating that they understand and accept the terms of the release.

The parties involved in this form are the individual releasing financial responsibility and any other parties involved in the collision, such as other drivers or property owners. It is important for the individual filling out this form to carefully review and understand the terms of the release before signing.

An example of when this form may be used is if an individual is involved in a minor fender-bender and their insurance company has determined that they are not at fault. The individual may choose to complete this form to release their financial responsibility for any damages related to the collision.

An alternative form that may be used in a similar situation is an accident report form, which is typically submitted to law enforcement agencies to document the details of a collision. The difference between these two forms is that the accident report form focuses on documenting the facts of the collision, while the FR-202 form is specifically for releasing financial responsibility.