Taxi vehicle bonds
Understanding taxi vehicle bonds
A bond is a payment made in advance by a driver to the owner or operator of the vehicle to cover any costs for which the driver may be liable to pay at the expiry of the vehicle lease.
The contract is arranged by the vehicle owner and should be read carefully by the driver to ensure comprehension of the content.
A statement containing conditions about the bond and its use must be provided by the operator with a receipt for the bond amount, including the date it was received.
How taxi vehicle bonds are handled
A clear process for handling taxi vehicle bonds is detailed below.
1. Read and be aware of the content of the contract.
2. Ensure a receipt is received from the operator. This must contain:
- The name of the driver.
- The vehicle particulars.
- The amount paid.
- The date the bond was paid.
3. Keep all receipts involved in the maintenance and any repairs for the vehicle.
4. Check that the operator has deposited the bond into a trust account maintained for a particular driver and retained in the trust account until the end of the contract.
5. Request a statement in writing from the operator whenever the operator uses the bond money or any part of it.
Taxi vehicle bond disputes and documentation
For details of bond disputes, refer to Section 36 of the Taxi Act 1994. The operator is required to provide statements in writing and receipts to the driver in relation to the bond.
Statements in writing should be provided at the start and end of the contract agreement. It is important to provide copies of all statements and receipts and any other documents relating to the bond or the vehicle.
Note: The Department of Transport only deals with bond disputes that breach the Taxi Act 1994 (Section 36).
|Department of Justice: Taxi Act 1994|