Consideration and Accounting. The Base Rate for each vehicle is the agreed Cost to operate the vehicle for one day. The Base Rate will include: • The Bus Cost, i.e. the cost of the vehicle less disposal value amortized over the agreed lifespan of the vehicle • Peripherals – Amortized cost of additional equipment on each bus beyond the standard vehicle • Licensing –10 month license cost • Training - ongoing driver education to meet board and Ministry requirements • Spare Drivers – Cost for on call drivers to cover driver shortages • Insurance • Maintenance – Regular vehicle maintenance • Parking and Facilities – vehicle storage and office space • General Administration – the other costs of operating a business, including profit • Driver Wages – the cost to provide a driver for one day for the subject vehicle The Base Rate is established at the time that a proposal is accepted and will remain fixed for the duration of the Agreement, save and except for approved adjustments to items which are directed by the RCJTC, Boards, Governmental or other Regulatory change. Board Labour Dispute Rate The rate at which the RCJTC will pay the Operator for the periods described in Article 2.7 of this Agreement (2.7 Cancellation of services by the RCJTC as a result of Member Board Labour Disputes). This rate shall be 100 Percent of the then current per day “base contract rate” only. Contract Ending Date The last date upon which services under this Agreement shall be delivered. The Contract Ending Date of this Agreement is June 30 2024. Contract Starting Date The date upon which services under this Agreement begin to be delivered. The Contract Starting Date of this Agreement is ASAP. Term Definition Inclement Weather Rate The rate at which the RCJTC will pay the Operator for the periods described in Article 2.5 of this Agreement (2.5 Cancellation of services by the RCJTC during Inclement weather). This rate shall be 100 percent of the then current per day “base contract rate” only. Member Board’s The Renfrew County Catholic District School Board and the Renfrew County District School Board. Operator The organization or individual supplying the services which are the subject of this Agreement. The Operator includes the staff of the Operator, the drivers, the equipment and all services provided by the Operator to perform the services under this Agreement. Rate For Operator Labour Disputes The rate at which the RCJTC will pay the Operator for the periods described in Article 2.6 of this Agreement (2.6 Cancel...
Consideration and Accounting
