Verra Mobility announced agreement on key commercial terms of a new seven-year tolling and violations services contract with Avis Budget Group, though terms are expected to be materially less favorable than the prior deal.
Key Highlights:
- Reached agreement on key commercial terms for a seven-year tolling and violations services contract with Avis Budget Group.
- Parties are finalizing remaining operational terms and conditions collaboratively.
- New agreement gives Avis Budget the option to selectively perform certain activities internally.
- Company expects the new commercial terms to be materially less favorable financially compared to the prior agreement.
Original SEC Filing:
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