New Statutory Guidance on Financial Standing

The Traffic Commissioner has released new statutory guidance on financial standing which has been published today. This can be found on the gov.uk website.

This guidance sets out how financial standing can be met. It is a continuous requirement throughout the life of an Operator Licence and forms one of the undertakings given at the time of applying for a licence. The Traffic Commissioner can ask for evidence that this requirement is being met and, if is not, could lead to you losing your licence.

If you require any further advice in relation to any aspect of financial standing, please contact Michelle O’Garro at mogarro@woodfines.co.uk.