As I had said before, there are many taxi companies in Singapore. One of them is called Prime Car Rental & Taxis.
In Singapore, taxi-drivers need to sign an agreement with the taxi company for rental of the taxis as taxi-drivers are not allowed to own their own taxis. The taxi companies have various incentives to attract taxi-drivers to rent taxis from them. Prime has one which states that they will give a $11,000 bonus to their taxi-drivers if the taxi-drivers rent taxis from them for 5 straight years.
The taxi-drivers signed the agreement in good faith, fully expecting this bonus to be paid to them. However, there seems to be a catch the taxi-drivers do not know about. Taxi-drivers renting taxis from Prime Car Rental & Taxis have to pay a fee of $6.03 per day on the taxis. As the amount is small, the taxi-drivers paid it, thinking it was part of the rental.
However it now seems that Prime Car Rental & Taxis is using this $6.03 fee to pay for the bonus of the taxi-drivers. $6.03 per day over 5 years comes to slightly over $11,000 and Prime Car Rental & Taxis is using this to pay for the 5-year bonus.
Naturally the taxi-drivers are up in arms about this and I can understand why. When I hear the word ‘bonus’, it is something ‘extra’ that is given to you. Prime Car Rental & Taxis is taking a daily fee from the taxi-drivers, giving it back to them in a lump sum, and then calling it a bonus.
I’m no lawyer so maybe that’s why I don’t get this but how in the world can this be called a ‘bonus’? At best, it is a savings scheme; at worst, a well-worded contact by Prime to cheat their own taxi-drivers from the very start; but how can they called it a ‘bonus’?
Is there any readers out there who can explain this to me?