How To Buy & Sell

What are the Benefits of Listing a Taxi Licence or Taxi Business for sale on the NLX?


The market is specifically designed for the sale and lease of Taxi Licences and/or Taxi Businesses around Australia.

NLX authorised Taxi Brokers are members of the Taxi Industry, and they specialise in the sale and lease of Taxi Licences and/or a Taxi Business.

The NLX Taxi Market is a live electronic market. Authorised Taxi Brokers can place legitimate bids/offers on behalf of clients interested in purchasing Taxi Licences and Taxi Businesses that are for sale throughout Australia.

Overview

To buy or sell a taxi licence firstly the client contacts an Accredited National Taxi Broker ("Broker"). The Broker will work with the client to complete the transaction on the National Taxi Market ("Market"). Brokers have undergone an Accreditation Program to ensure they have a strong knowledge of the Market. The Broker ensures that the client meets all eligibility requirements to transact on the Market.

The Market is divided between segments for sale and lease of taxi cab licences. In both segments, potential buyers and sellers will be able to view historical transactions, average prices, and current licences and leases for sale.

Within each of these segments there are two methods by which the sale and lease of licences are transacted on the Market. The first is a 'Directly Negotiated Deal'. In this case the buyer and seller negotiate terms and then contact a Broker(s) to report the transaction through the Market. The second method is a 'Market Deal'. This method utilises the mechanics of the Market to match the buyer and seller.

A diagram of the process is detailed below.

National Taxi Broker - Process for Sale/Lease of Taxi Licence

* At this point, the following takes place:

  1. Broker and client sign a Broker Authority to Act Agreement
  2. Broker may collect the following money:
    1. up to 10% of licence payment
    2. a security deposit equivelant to the monthly lease of the licence plus GST
    3. BSX transaction fees
    4. Licence application fee
    5. Brokers fee
      and deposits them in a Trust Account.
  3. Broker provides client with Licence Sale/Lease Agreement to gain an understanding of the terms

Note:
The National Taxi Market provides a list of Accredited Brokers for client selection.

Broker determines status and product requirement in accordance with National Taxi Market Rules, Code of Conduct and Broker Procedures Manual.