Prearranged basis

Definition

The rule that a charter-party carrier charges by mileage or time and not by the seat.

Why It Matters

Only certain authority classes may charge individual fares, and the rest must price the vehicle instead of the passenger. That matters when a seller's profit and loss carries per-seat shuttle revenue: the work may sit outside the authority being bought, and it can evaporate at closing and not transfer. Split the revenue by how it was charged before agreeing what the book is worth.