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Six Month Grace Period for Financial Standing

The Traffic Commissioners have decided to award a six month period of grace to operators that are struggling to meet the new financial standing requirements demanded by EU regulators.

The period of grace will only be awarded to operators who request it in writing from the Traffic Commissioners who will also ask to see evidence that the awarded grace would be worthwhile and a compliant level of financial standing will be shown at the end. They also grant that any operators with spare margin on their licences may consider surrendering unused vehicle margin in order to maintain financial standing.

The new financial standing rates apply to standard national and standard international licences only and currently sit at 7,850 for the first vehicle and 4,350 for each additional vehicle.

If you are struggling to show financial standing, ask us for advice, we will listen to your situation and offer a course of action free of charge: 0800 158 8029.

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