FROM THE TCSA (Taxi Council of SA) Taxi Lease Renewals

There are currently taxi license owners (TLO’s) transferring their licenses without coming to the Taxi Council.
The concern is about the ramifications because encumbrance checks are not being conducted.
The licenses are being sold like a bag of lollies and which has the potential to devalue them even further.
If someone sold their license to you and there was money owing, and then it was on sold again and again it may be some time before it was caught up with it and it would be the current owner who would suffer substantial financial lost unknowingly. The reason the TCSA hold interests on taxi licenses at the Taxi Council is to give assurance to the financial institutions (banks) that we are being responsible with managing the asset. This is one of the reasons the banks started to lend money on Licenses.
AND REMEMBER, it is not even the license owner who pays for the encumbrance check – it is the new owner, so the TLO should have no reason not to ask the Central Booking Services (CBS’s – radio companies).
WHAT TO DO!
Just take your Taxi Lease Renewal Notice to the TCSA and they will arrange to have it signed and will tell you what you need to do.
Yes, the TCSA charge, but it is a small once-off fee and usually paid for by the taxi license operator.
The TCSA are available 5 days per week to give advice and assistance on any matter pertaining to the industry.

Related Posts