According to a new arrangement introduced in year 2009 by the Competition Authority, the majority of the contracts among fuel distributors and dealerships will expire by September 18, 2010.
Due to the limitation of the “beneficial ownership”, a kind of contract between the dealerships and distributing companies, with a period of 5 years, the dealers will be able to choose the distributor with the most reasonable offer regarding the “beneficial ownership“.
This creates the need for renewal of the contracts with approximately 5 thousand gas stations (dealer) among a total number exceeding 12 thousand.
The resolution of disputes to arise in between dealers and distributors in relation to the “usufruct value” out of the return of usufruct exceeding 5 years in contracts executed before the year 2005, and which provide for beneficial ownership exceeding 10 years as of 2010, will be assisted by the “Beneficial Ownership Valuation” reports.
Experienced valuers of IGD are certified by American Appraisal Institute, with “Apprasing Convenience Stores Program Certificate”.