THE OFFICE of the Traffic Commissioner has confirmed new financial standing levels for hauliers that took effect on 1 January 2019.
Standard national and International licence applicants will be required to demonstrate £8,000 (previously £7,950) for the first vehicle and £4,450 (previously £4,400) for each additional vehicle they request to be authorised.
There will be no change to the rates of finance which must be available to support a Restricted licence or application, £3,100 for the first vehicle and £1,700 for each additional authorised vehicle.
Operators making variation applications will be required to demonstrate financial standing for their existing fleet and any additional authorisation against the new levels.
Any applicant or licence holder appearing at a public inquiry before a commissioner after 1 January 2019, where evidence or financial standing is requested, will be required to satisfy the new levels.
