Media ININ Economy We Trust
Media In / Riyadh November 13,
The Public Transport Authority of Saudi Arabia has started implementing the regulations governing the car rental activity and leasing brokers, through which the Authority seeks to raise the level of services rendered in the sector, make it attractive for investment, regulate the contractual relationship and promote competitiveness and self-control.
The implementation of the provisions of the Regulations has been taken into consideration for three years from the date of entry into force. The application of some of the terms and conditions in the Regulation has been delayed to enable licensed investors before the Regulations to come into effect in order to maintain their existing assets and investments.
In terms of the terms and conditions of car hire by driver and hourly rental, and contracting with the leasing intermediaries, the mechanism granted the licensees from the previous deadline ending on 30 Safar 1441H to meet these conditions and controls. As for the formal form of the establishment and the spatial limits, Deadline expires on 30 Safar 1443H to correct the situation.
He pointed out that the mechanism granted the licensees from the previous deadline ending on 30 Sha’ban 1440H to register the vehicles operating in the activity and issue a working card for them, with the time limit applicable to the condition of commitment in the contract form and the minimum requirements, data and information to be met.
