 NEWS
ATTENTION: LEASE CAP HEARING
On March 18, 2008 the New York City Taxi & Limousine Commission held a Lease Cap Hearing.
The Taxi & Limousine Commission prepared specific questions to be discussed at the hearing. The questions were designed to provide information about lease contracts and leasing practices involving:
• medallion only leasing
• medallion and vehicle leasing
• fleet leasing
• drivers
The information collected at the hearing will be evaluated by the Taxi & Limousine Commission over the following weeks. A report disclosing the findings and recommendations of the Taxi & Limousine Commission will be published by the commission at that time.
Following are the questions:
MEDALLION-ONLY LEASING
Section 1: Industry Questions
Please answer ALL questions in this section (Section 1) to the best of your ability.
General Costs and Expenses
a) What are your liability insurance costs?
b) What are your general, administrative, and operational costs?
c) What are your costs associated with licensing and fees?
d) What are the maintenance costs?
e) What are your expenses for tires and car wash services?
f) How much are your weekly expenses for T-PEP?
g) What are your total weekly vehicle costs? All costs should be for WEEKLY amounts.
1. What are your weekly medallion renewal fees?
2. What are your weekly hack-up fees?
3. What are your weekly taximeter fees?
4. What are your weekly rate card fees?
5. What are your weekly roof light fees?
6. What are your weekly vehicle tax fees?
7. What are your weekly tax stamp fees?
Section 2: Contract Questions
Please answer ALL general questions in this section to the best of your ability, even if you don’t feel it relates to you directly.
1. General
a) What are the additional costs to drivers if something happens to the vehicle outside of the 5 boroughs of New York City?
b) How and when do drivers get their security deposits back?
c) How long do your lease agreements run and what different lease lengths do you offer?
d) Are any of your lease terms (whether lease lengths, title holding, or others) driven by tax concerns, and if so, which ones?
e) If a driver terminates a lease agreement prior to expiration, are there any termination fees or penalties, and if so, what are they?
f) Describe whether and how you assess late charges?
g) Do drivers get receipts for payments?
1. What information is included on those receipts?
h) How much do you pay for Worker’s Compensation?
2. Medallion Lease Questions
If you lease out medallions to drivers, you should complete these questions.
a) Who pays fines on the medallion?
b) Who pays weekly medallion expenses? Please respond to each expense listed below.
1. Medallion renewal fees?
2. Vehicle hack-up costs?
3. Taximeter?
4. Rate card?
5. Roof light?
6. Vehicle tax?
7. Tax stamp?
c) If a medallion owner terminates his relationship with an agent:
1. Does the driver receive a new medallion?
2. Who pays the new inspection costs?
3. What is the length in time a driver must wait to receive a new medallion?
d) If the medallion is suspended, is the driver responsible for making continued payments?
MEDALLION AND VEHICLE LEASING
Section 1: Industry Questions
Please answer ALL questions in this section (Section 1) to the best of your ability.
General Costs and Expenses
a) What are your liability insurance costs?
1. What are your general, administrative, and operational costs?
2. What are your costs associated with licensing and fees?
3. What are the maintenance costs?
4. What are your expenses for tires and car wash services?
5. How much are your weekly expenses for T-PEP?
6. What are your total weekly vehicle costs? All costs should be for WEEKLY amounts.
a) What are your weekly medallion renewal fees?
b) What are your weekly hack-up fees?
c) What are your weekly taximeter fees?
d) What are your weekly rate card fees?
e) What are your weekly roof light fees?
f) What are your weekly vehicle tax fees?
g) What are your weekly tax stamp fees?
Section 2: Contract Questions
Please answer ALL general questions in this section to the best of your ability, even if you don’t feel it relates to you directly.
1. General
a) What are the additional costs to drivers if something happens to the vehicle outside of the 5 boroughs of New York City?
b) How and when do drivers get their security deposits back?
c) How long do your lease agreements run and what different lease lengths do you offer?
d) Are any of your lease terms (whether lease lengths, title holding, or others) driven by tax concerns, and if so, which ones?
e) If a driver terminates a lease agreement prior to expiration, are there any termination fees or penalties, and if so, what are they?
f) Describe whether and how you assess late charges?
g) Do drivers get receipts for payments?
1. What information is included on those receipts?
h) How much do you pay for Worker’s Compensation?
2. Medallion and Vehicle Leases
If you lease out medallions and finance or lease out vehicles to drivers, you should complete this section.
a) What is the timeframe between a driver signing a contract and being able to drive the vehicle?
b) What are the make and model of the vehicles being leased to drivers?
c) Do you require a driver to obtain collision and liability coverage through you or a related entity?
d) Are there any other products or services (including the vehicle) that you require the driver to get through you or as you direct?
e) How do you finance the vehicles that you lease?
f) In a vehicle lease, who pays initial expenses for hack-up?
g) What fees are drivers responsible for paying?
1. Medallion fees/fines?
2. Renewal fees?
3. Hack-up?
4. Taximeter?
5. Rate card?
6. Roof light?
7. Vehicle tax?
8. Tax stamp?
h) How are weekly shifts defined?
1. What is the difference between a 6 day and 7 day weekly shift?
g) Are drivers who lease a vehicle and a medallion allowed to double shift their vehicles?
h) Are drivers who lease a vehicle and a medallion allowed to put additional| drivers on the rate card? If so, how would they do that?
i) Do drivers get a choice to advertise on the roof light? If there is advertising on the roof light, do drivers receive advertising revenue?
j) Are drivers charged operating and general expenses? What costs are included in those expenses?
k) What happens if the driver’s medallion contract is terminated? Is he/she given the option to buy the vehicle outright and what is the length of time given for the purchase?
l) Who holds the title to the vehicle?
m) Upon payment completion, how is vehicle ownership transferred and how long does this transfer take?
FLEET QUESTIONS
Section 1: Industry Questions
Please answer ALL questions in this section (Section 1) to the best of your ability.
General Costs and Expenses
1. What are your liability insurance costs?
2. What are your general, administrative, and operational costs?
3. What are your costs associated with licensing and fees?
4. What are the maintenance costs?
5. What are your expenses for tires and car wash services?
6. How much are your weekly expenses for T-PEP?
7. What are your total weekly vehicle costs? All costs should be for WEEKLY amounts.
a) What are your weekly medallion renewal fees?
b) What are your weekly hack-up fees?
c) What are your weekly taximeter fees?
d) What are your weekly rate card fees?
e) What are your weekly roof light fees?
f) What are your weekly vehicle tax fees?
g) What are your weekly tax stamp fees?
Section 2: Contract Questions
Please answer ALL general questions in this section to the best of your ability, even if you don’t feel it relates to you directly.
1. General
a) What are the additional costs to drivers if something happens to the vehicle outside of the 5 boroughs of New York City?
b) How and when do drivers get their security deposits back?
c) How long do your lease agreements run and what different lease lengths do you offer?
d) Are any of your lease terms (whether lease lengths, title holding, or others) driven by tax concerns, and if so, which ones?
e) If a driver terminates a lease agreement prior to expiration, are there any termination fees or penalties, and if so, what are they?
f) Describe whether and how you assess late charges?
g) Do drivers get receipts for payments?
1. What information is included on those receipts?
h) How much do you pay for Worker’s Compensation?
2. Fleet Questions
If you represent a fleet, you should reply to all of the following questions.
a) What is a weekly lease?
b) How does a weekly lease differ from:
1. Double day lease?
2. 24 hour shift lease?
3. 24 hour weekly lease?
c) What fees are included in the lease? What fees are excluded from the lease?
d) Are taxes included in the lease?
DRIVER QUESTIONS
Section 1: Industry Questions
Please answer ALL questions in this section (Section 1) to the best of your ability.
General Costs and Expenses
1. What are your liability insurance costs?
2. What are your general, administrative, and operational costs?
3. What are your costs associated with licensing and fees?
4. What are the maintenance costs?
5. What are your expenses for tires and car wash services?
6. How much are your weekly expenses for T-PEP?
7. What are your total weekly vehicle costs? All costs should be for WEEKLY amounts.
a) What are your weekly medallion renewal fees?
b) What are your weekly hack-up fees?
c) What are your weekly taximeter fees?
d) What are your weekly rate card fees?
e) What are your weekly roof light fees?
f) What are your weekly vehicle tax fees?
g) What are your weekly tax stamp fees?
Section 2: Contract Questions
Please answer ALL general questions in this section to the best of your ability, even if you don’t feel it relates to you directly.
1. Driver Questions
If you are a driver, you should reply to all of the following questions.
a) How does a weekly lease differ from a:
1. Double day lease?
2. 24 hour shift lease?
3. 24 hour weekly lease?
b) What are your weekly costs for:
1. Maintenance?
2. Gasoline?
3. Insurance?
4. T-PEP?
c) How much do you pay to lease your vehicle each week?
d) How much do you pay to lease your medallion each week?
e) What additional costs do you pay each week?
f) Do you lease your medallion from the same person you get your car from?
1. Are these people in the same building?
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