Exhibit 99.1
ANNUAL SERVICER'S CERTIFICATE
For Year Ended December 31, 2003
DAIMLERCHRYSLER SERVICES NORTH AMERICA LLC
DAIMLERCHRYSLER AUTO TRUSTS
The undersigned, duly authorized representatives of DaimlerChrysler Services
North America LLC ("DCS"), as Servicer, pursuant to the Sale and Servicing
Agreements listed in Exhibit 1 (the "Agreements"), by and among DCS, as Seller
and Servicer, and the Issuers listed in Exhibit 1, does hereby certify that:
1. DCS is, as of the date hereof, the Servicer under the Agreements.
2. The undersigned are Servicing Officers and are duly authorized
pursuant to the Agreements to execute and deliver this Certificate
to the Issuer, the Owner Trustee and to the Trustee.
3. A review of the activities of the Servicer during the calendar
year ended December 31, 2003 and of their performance under the
Agreements was conducted under our supervision.
4. Based on such review, the Servicer has, to the best of our
knowledge, performed in all material respects all of its
obligations under the Agreements and no default in the performance
of such obligations has occurred or is continuing except as set
forth in paragraph 5 below.
5. There were no defaults made by the Servicer in the performance of
its obligations under the provisions of the Agreements during the
year ended December 31, 2003.
Capitalized terms used but not defined herein are used as defined in the
applicable Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 30th
day of March 2004.
/s/ Norbert J. Meder /s/ Mark L. Davis
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Norbert J. Meder Mark L. Davis
Vice President and Assistant Controller
Controller Financial Reporting & Policy
Exhibit 1
SALE AND SERVICING
ISSUER AGREEMENT DATED INDENTURE TRUSTEE OWNER TRUSTEE
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DCAT 2000-A February 1, 2000 Bank One, N.A. Chase Manhattan Bank Delaware
DCAT 2000-B May 1, 2000 Bank One, N.A. Chase Manhattan Bank Delaware
DCAT 2000-C September 1, 2000 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2000-D October 1, 2000 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2000-E December 1, 2000 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2001-A March 1, 2001 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2001-B June 1, 2001 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2001-C September 1, 2001 Citibank, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2001-D November 1, 2001 Citibank, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2002-A April 1, 2002 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2002-B July 1, 2002 Bank One, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2002-C October 1, 2002 Citibank, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2003-A August 1, 2003 Citibank, N.A. Chase Manhattan Bank USA, National
Association
DCAT 2003-B December 1, 2003 Deutsche Bank Chase Manhattan Bank USA, National
Association
INDEPENDENT ACCOUNTANTS' REPORT
The Manager and Member
DaimlerChrysler Services North America LLC:
We have examined DaimlerChrysler Services North America LLC's (the "Company")
compliance with certain applicable minimum servicing standards set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers ("USAP") as of and for the year ended December 31, 2003,
pursuant to the Sale and Servicing Agreements listed in Exhibit 1 of the
Management Assertion. Management is responsible for the Company's compliance
with those requirements. Our responsibility is to express an opinion on the
Company's compliance based on our examination.
Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Company's
compliance with the minimum servicing standards and performing such other
procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does
not provide a legal determination on the Company's compliance with the minimum
servicing standards.
Our examination disclosed the following material noncompliance with minimum
servicing standard II.1 as set forth in USAP. As explained in the Management
Assertion, minimum servicing standard II.1 requires timely remittances of cash
collections to the trusts. The Company remitted estimated daily cash collections
on receivables for the collection period net of expected distributions to be
made to the Company for the collection period. In circumstances when the
servicer is required to remit cash collections daily, Section 5.08 of the Sale
and Servicing Agreement does not permit remittances to be made net of expected
distributions to the servicer. On March 30, 2004, the Company received an
Acknowledgement and Waiver from the Owner Trustee, waiving the provisions of
Section 5.08 of the Sale and Servicing Agreements with respect to the netting of
all remittances on or before March 30, 2004. This condition was considered in
determining the nature, timing, and extent of audit tests applied in our audit
of the 2003 financial statements of DaimlerChrysler Auto Trust 2003-A and
DaimlerChrysler Auto Trust 2003-B, and this report does not affect our reports
dated March 26, 2004 on those financial statements.
In our opinion, except for the material noncompliance described in the preceding
paragraph, DaimlerChrysler Services North America LLC complied, in all material
respects, with the aforementioned applicable minimum servicing standards for the
year ended December 31, 2003.
/s/ KPMG LLP
Detroit, Michigan
March 30, 2004
Management Assertion
March 30, 2004
As of and for the year ended December 31, 2003, except as explained in the
following paragraph, DaimlerChrysler Services North America LLC has complied in
all material respects with the minimum servicing standards set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers, to the extent that such servicing standards are applicable to
the servicing obligations pursuant to the Sale and Servicing Agreements, as
applicable, included in Exhibit 1.
Minimum servicing standard II.1 requires timely remittances of cash collections
to the trust. The Company as Servicer remitted within two business days of
receipt thereof to the Deposit Account funds representing payments by or on
behalf of the Obligors with respect to the receivables. These payments were
reduced for Servicer Fees and estimated overcollateralization releases owing to
the Servicer for the collection period. Section 5.08 of the Sale and Servicing
Agreement states that such netting by the Servicer is allowed except when the
Servicer is required to remit collections daily. Although we were required to
remit collections daily as of, and for the year ended December 31, 2003, we note
that the trustee was aware of this netting, consented to this approach as an
acceptable and reasonable business practice, and has provided written
documentation to this effect with respect to all remittances which occurred on
or before March 30, 2004.
Due to the nature of the trusts referenced in Exhibit 1, minimum servicing
standards I.2, I.4, III.1, III.2, III.3, III.4, III.5, III.6, V.2, V.3, V.4 and
VII.1 are not applicable and, accordingly, DaimlerChrysler Services North
America LLC has not made an attempt to comply with those standards.
DaimlerChrysler Services North America LLC, as Servicer
/s/ Paul E. Knauss
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Paul E. Knauss
Vice President and Chief Financial Officer
/s/ Robert L. Watson
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Robert L. Watson
Senior Manager -- Structured Finance and Securitization
/s/ Mark L. Davis
- -----------------------------------------------------
Mark L. Davis
Assistant Controller -- Financial Reporting & Policy
EXHIBIT 1
Sale and Servicing
Issuer Agreement Dated Indenture Trustee Owner Trustee
- ------ --------------- ----------------- -------------
DCAT 2000-A February 1, 2000 Bank One, N.A. Chase Manhattan Bank Delaware
DCAT 2000-B May 1, 2000 Bank One, N.A. Chase Manhattan Bank Delaware
DCAT 2000-C September 1, 2000 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2000-D October 1, 2000 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2000-E December 1, 2000 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2001-A March 1, 2001 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2001-B June 1, 2001 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2001-C September 1, 2001 Citibank, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2001-D November 1, 2001 Citibank, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2002-A April 1, 2002 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2002-B July 1, 2002 Bank One, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2002-C October 1, 2002 Citibank, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2003-A August 1, 2003 Citibank, N.A. Chase Manhattan Bank USA,
National Association
DCAT 2003-B December 1, 2003 Deutsche Bank Chase Manhattan Bank USA,
National Association