Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
Warehousing - Distribution - Fulfilment - Co-Pack

Phone: 0115 940 3332

Email : sales@parklog.co.uk


Financial standing rules to change from new year

  • 14 December 2012
  • By derren hayes

The amount of cash transport companies must have in the bank to prove their good financial standing is to be reduced under new Department of Transport rules that come into effect in the new year.

From 1 January 2013, the minimum financial standing levels operators need to demonstrate will drop to £7,200 for the first vehicle, and £4,000 for each additional vehicle they request to be authorised.

Previously operators needed access to £7,700 and £4,200 respectively.

The new financial standing requirements will apply to all new standard national and international applications submitted after 1 December 2012. Existing licence holders who apply to vary their fleet size, or are called to appear at a public inquiry and need to prove their financial standing, will also be judged against the new levels.

The rates for restricted licence holders and applicants remain the same.

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Article source: http://www.commercialmotor.com:80/latest-news/standing