Prairie Sky Car Sharing Agreement, 2011
This agreement, made between the members of the Prairie Sky Car Sharing Group “the Group”, documents how the Group will function.
Rules and Regulations
4. The shared cars will actually belong to Prairie Sky Cohousing Co-operative Ltd., but all decisions as to the purchase, operation, maintenance and replacement of the vehicles will be made by the Group. Prairie Sky Cohousing Co-operative Ltd. will hold the insurance on the vehicles, but the Group will pay the insurance premiums.
5. All costs, liabilities and responsibilities rest with the members of the Group.
6. The first driver in each household will purchase two shares in the Group; additional drivers will purchase one share. The original cost per share was $200.
7. New members will pay an amount per share equal to the greater of $200 and 1/nth of the value of the assets of the Group, where n is the number of shares outstanding prior to the purchase.
8. The Group will not maintain a replacement fund. When the vehicle needs to be replaced, funds will be raised from the members.
9. Members will pay $10 per share per month to cover the fixed costs of owning the vehicle.
10. Members will pay the following usage fees to cover the variable costs of operating the vehicle:
11. $1.50 per hour, for a maximum of 10 hours per day (where the day starts at 6 am), plus
12. $0.40 per kilometer, decreasing to $0.20 per kilometer after 100 km per rental period.
13. The Group intends to maintain the operating fund at about $1000 per vehicle. If the amount in the fund drops below $500 per vehicle or rises above $1500 per vehicle, the Group may change the usage rates for the vehicles.
14. By March 1 of each year, the Group will review the expected service life of each vehicle and determine whether the payments into the replacement fund should be changed.
15. The Group will maintain two million dollars of liability coverage, and Fire and Theft insurance on the vehicles, but no collision or glass coverage, with a deductible of $500. The coverage will permit members to drive the vehicles to work.
16. A member who is deemed to be at fault in an accident will be responsible for 75% of the costs of repair, replacement or deductible. The members of the group will share all other costs, including any increased insurance cost. If possible, these increased costs will be covered by fees, but additional cash injections may be required.
17. A member wishing to withdraw from the Group will be refunded an amount per share equal to 1/nth of the value of the assets of the Group (the value of the vehicles, prepaid insurance, the operating fund, and the replacement fund), less 20%, where n is the number of shares outstanding prior to the withdrawal.
18. Each member will have the responsibility to make routine maintenance happen (fuel, oil changes, light bulbs, etc.) Major repairs will be agreed to in advance by several of the drivers, when possible. The member doing so will be credited $20 against driving fees for every hour spent. No mileage charges will accrue for travel to do this. One member will be responsible for tracking maintenance needs.
19. Bookings will be made via browser access to our website.
20. Members are to allow some leeway in their bookings so as to ensure that the vehicle is available for the next member at the appointed times. A minimum of ½ hour leeway is required between bookings.
21. Any member who returns a vehicle late (causing the member with the next booking to scramble for alternate transportation.) will be responsible for any taxi fares incurred by that member.
22. Each member will record mileage and time for each rental in a logbook kept in each vehicle. Vehicle expenses (fuel, repairs etc.) will be paid by the member and recorded in the logbook. Expense receipts will be left in the glove compartment.
23. Every quarter the logbook entries will be tallied and fees and reimbursements calculated. The task of tallying the logbook, calculating charges and collecting them will be rotated every few months. The member doing so will be credited $20 against driving fees for every hour spent.
24. The Group will rent stalls in the parkade for the vehicles. If this is not available, we will park the vehicles at the north end of the Prairie Sky property.