# Certificate transfer

A term used when buying limousine service.

The rare passenger authority that travels with the business, on application and a fee.

California splits its charter-party licenses in two and the halves behave in opposite ways. The lettered certificates, Class A, B and C, may be transferred by filing a transfer application, which costs $300 and makes the authority one of the few assets in this trade that genuinely survives a sale. The permit types do not transfer at all, so a seller holding one is selling vehicles and a customer list while the buyer applies from scratch. Ask which the seller holds before valuing the book, and read the insurance schedule beside it: the state scales coverage by seating capacity, from $750,000 at eight seats or fewer to $5,000,000 at sixteen or more.

Part of: Buying a Limousine Service (https://searchspheresource.com/guides/buying-a-limousine-service)

Source: https://searchspheresource.com/guides/buying-a-limousine-service/terms/certificate-transfer
Not dated: The same editorial definitions as the glossary, inside a trade.

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