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Due Diligence
Acquiring a Goods Vehicle or Passenger Vehicle business involves significant risks, and it is crucial for prospective buyers to ensure they are getting a reputable and compliant operation while obtaining value for their money.
Apart from analysing the accounts, reviewing the numerous files, documents, and systems relating to compliance is essential. The vendor’s tachograph, maintenance, and Operator Licence compliance systems should be fully audited to ensure legality.
One significant concern is whether the vendor was making profits by engaging in illegal activities.
Our experienced consultants can assess the Operator’s compliance systems before purchase and identify potential risks. We have witnessed several instances of unscrupulous operators achieving profitability by flouting EC Drivers’ Hours and Tachograph Regulations and vehicle roadworthiness standards.
Taking proactive measures before making the purchase is more economical and advisable than incurring significant costs on remedial action after the sale or in the most extreme cases defending allegations of non-compliance following purchase and the transfer of responsibility.
At Foster Transport Compliance, we can help by ensuring the business’ profitability is legally obtained. In addition, we can audit compliance systems to identify areas for improvement and mitigate any future surprises.
We can undertake a full and accurate review of their compliance systems on your behalf. This includes their current levels of compliance, to ensure that any factors that require improvement can be built into any commercial deal.
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Frequently Asked Questions.
If you have a question that has not been answered in our FAQs, get in touch with us and a member of the Foster Transport Compliance team will be able to provide further details.
Acquiring a Goods Vehicle or Passenger Vehicle business involves significant risks. Prospective buyers should ensure they are getting a reputable and compliant operation while obtaining value for their money. This should include a review against the current standards expected as well as reviewing any other documentation i.e. OCRS and encounter history as well as those records retained in house.
Apart from analysing the accounts, reviewing the numerous files, documents, and systems relating to compliance is essential. The vendor's tachograph, maintenance, and Operator Licence compliance systems should be fully audited to ensure legality.
One significant concern is whether the vendor was making profits by engaging in illegal activities. Our experienced consultants can assess the Operator's compliance systems before purchase and identify potential risks.
We have witnessed several instances of unscrupulous operators achieving profitability by failing to meet the requirements of their maintenance intervals, failing to maintain vehicles to a suitable standard and also operating drivers outside the Regulations thereby achieving greater work from the vehicle than was legally permitted.
A Wealth of Experience in Transport Compliance
For more than 55 years, Foster Transport Compliance has been providing top-of-the-line service in tachograph systems, maintenance system compliance, operator licensing and compliance audits. From individual drivers to multinational companies, we pride ourselves on our attention to detail and professional approach.
Expert Witness Service
Compliance Audits and Support
Training Courses and Events
Tachograph
Analysis
Foster Transport Compliance
Ensure Continuous and Effective Management of Compliance
Many operators are not thoroughly audited and only a few undertake internal audits. Even fewer have a “tick-box” approach to auditing. This is problematic because as we have seen, many clients come to us after a major compliance issue has arisen, at which point the underlying problem has been detected by the enforcement body. Get in touch with us to find out more about you can proactively monitor and audit systems.