Page 82 - Policy Wording - Commercial Underwriting Mandates & Guidelines Binder Addendum

Annexure F – Annexure C: Motor – List of Exotic Vehicles, Licence Code and Vehicle Code Classifications
International/Foreign Driver’s Licence (cont.)
3. Requirements following permanent residence – If the holder of a foreign license is a South African citizen or a person that already has permanent residence and the person returns to South Africa to resume permanent residence the period allowed for conversion of a foreign licence after permanent residency is acquired is
5 years.
4.
If the holder of a foreign license is a South African citizen that returns to South Africa as a permanent resident the period allowed for conversion of a foreign licence after permanent residency is acquired is 5 (five) years.
Vehicle Codes
Code
Type
Description
1
New
(i) The source of the vehicle is a known manufacturer;
(ii) the current owner is the first person that ever became liable for licensing or the vehicle has not yet been liable for licensing;
(iii) the vehicle was never reported unfit for use (scrapped);
(iv) the vehicle was never stolen or deregistered by default due to failure to licence the vehicle and;
(v) the vehicle was never exempt from registration.
2
Used
(i) The source of the vehicle is a known manufacturer and;
(ii) the current owner is the second or later owner of the vehicle after the vehicle became liable for licensing or;
(iii) the vehicle was stolen or deregistered by default due to failure to licence the vehicle or;
(iv) the vehicle was at any stage exempt from registration) and;
(v) the vehicle was never reported unfit for use (scrapped).
3
Built-up
(i) Source of the vehicle is not a known manufacturer or;
(ii) Vehicle has at any stage been reported as unfit for use (scrapped). The choice to declare a vehicle unfit for use, is that of the owner. The owner notifies the authority of his decision. The title- holder has to deregister the vehicle 3 months after the owner decided to scrap the vehicle.
4
Scrapped The owner may also notify the authority that the vehicle has been demolished. These vehicles can never be registered again. The old taxis in the taxi recap program are demolished. Some people refer to this as ‘code 4’ but it is actually recorded in another field on the vehicle record.
List of exotic vehicles (this list is not comprehensive, if in doubt please refer)
AC Cobra
Ferrari
Lamborghini
Nissan GT-R
Aston Martin
Jaguar XKRS
Maclaren
Noble
Audi R8
Koenigsegg
Maserati
Porsche
Bugatti
KTM X-Bow
Mercedes-Benz AMG
TVR
3
Commercial Underwriting Mandates & Guidelines – Binder Addendums – Version 2 2020