2023 Tyre Recycling Levy Initiative

TFI has introduced this Pilot Earthmover Tyre Green initiative where the end user benefits directly for recycling their scrap tyres. Whilst there are industry schemes that are having an impact, they don’t return funds to the end user. Now, less than 15% of earthmover tyres are recycled. TFI wants to see a financial benefit ‘travel’ with each earthmover tyre. TFI is keen to introduce its own appropriate scheme to encourage scrap tyre recycling by offering the end user a credit towards future purchases.

From 1st of February 2023, TFI will introduce a Pilot Tyre Recycling Green initiative program to our clients as per the details below.

TFI has included a Tyre Recycling amount in the tyre price to allow for a rebate to be credited back to the customer on the recycling of their tyres. This will be applicable for all OTR (Earthmover) and Port tyres with a rim diameter of 24” and above. Pneumatic and solid tyres are also included in the program. Original Equipment manufacturers will be exempted.

This will be rebated to customers once TFI verifies the customer has recycled their used tyres with a Licenced EPA approved scrap tyre recycler. A list of approved recyclers recognised by TFI can be found on our website, www.tradefaire.com.au.

The scheme:

TFI sells an OTR tyre to a customer and picks up their scrap casing.

Where TFI is supplying tyres and collecting used tyres for scrap recycling, TFI will invoice the customer for tyres, services and scrap charges, then apply a credit.

Repurposed tyres (Re-treaded or Repaired Tyres)

In circumstances where a casing is being re-lugged/re-treaded or repaired, this will constitute repurposing and qualify for the rebate subject to acceptable verification.

When TFI has supplied a customer with tyres, with or without services and has not received scrap tyres back to be recycled.

The following will be applicable:

· TFI will invoice the customer as normal without the recycling rebate on the invoice. However, at the end of each month, TFI will supply this customer with a rebate voucher for the total allotted individual rebate values for the OTR tyres bought during the period. This can be contributed toward any future purchases. Therefore, one voucher per month, and the amount as per the schedule within the invoice.

· So, once the customer has recycled/disposed of scrap tyres of any brand and any size using a Licensed EPA approved scrap tyre recycler, they can submit their recycler’s bill to TFI together with the voucher we issued. TFI will credit the customer the voucher amount on their trading account with us. This can be used towards existing and future purchases.

· Vouchers will be unique to each invoice, contain the invoice number and value along with an expiry date 12 months from the issue date.

TFI will create a tyre recycling rebate account within our accounting software (NetSuite) where a summary of the total voucher values will be recorded. A separate list will be used to verify the NetSuite account. This will be a maintained listing of each customer, voucher, Invoice number and value.

· Where TFI are holding funds resulting from the green initiative related to the invoice, these funds will be held and made available for a period of no more than 12 months from the date created.

· TFI will donate any unused rebates collected but not claimed within 12 months by customers to a green environmental project. We will publish this information on our website.

· TFI will only accept tyre recycling invoices from approved agents listed on our website and the invoice must be dated after the date of TFI’s supply invoice. Each recycling invoice can only be used once. The value of the recycling invoice must be at least equal to the value of the TFI Vouchers being claimed.

An Invoice Example e.g If TFI takes the scrap tyres back

• Molycop 360
• Tyrecycle
• Veolia Environmental Services
• ELT Recycling Australia
• Ozcom Recycling
• Ecoflex International

Thank you for your ongoing support and commitment to supporting our green initiative.

If you have any further questions, please feel free to contact us to discuss further.