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Post by teeboy12 on Dec 25, 2015 2:37:25 GMT
Per a post later in this thread, the program to compensate new hires for a loss incurred regarding the sale of personal vehicles has ended. Apparently, if you have not yet claimed this benefit, you're out of luck. Sorry for those of you in process who couldn't take advantage of this former benefit. ---stmayo11 *** Does the age of the car and selling price have any impact on whether Aramco compensates you or not? Just sold a very old car (15 years old) that was a backup for my main car at a ridiculously low price to a car dealer whom I am sure is buying it for s metal. Yes, it was 15 years old  and just recently passed the annual road worthiness test. I have the following documents:- Copy of certification of incorporation to show that I didn't sell to my 'cousin' or 'brother' - Evidence of ownership that was issued by the driving agency (original) - Original letter from insurers for insurance renewal as further evidence ownership - Sale invoice issued by dealer. |
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Post by expatinwaiting on Dec 25, 2015 6:01:33 GMT
I don't recall reading any stipulations regarding the age of the car. As far as documentation goes, you should be covered.
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Post by CanadianBacon on Dec 25, 2015 8:46:44 GMT
One of the cars I sold was a '98. They accepted it without a problem, and I received the full amount (1x month base salary) even though I sold the car for only $500.
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Post by fsaeed81 on Dec 26, 2015 19:31:58 GMT
no it wont, i sold a very old motorcycle and got compensation for it. It sold for only $1200. Rules are not too stringent regarding auto sale, as long as you have the invoice from the dealership, and additional documents you owned the vehicle.
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Post by bogiefrommuskogee on Dec 27, 2015 4:52:30 GMT
As with any large company, they prefer to establish a reasonable policy and just follow the guidelines. To look at every case individually is an accounting/audit nightmare. The man-hour cost alone is worth more than any difference. A few people may lose. Most will break about even. A few will do well. We used to get paid travel expenses against receipts. Now it is per diem. We used to get a repat cargo allowance (up to a limit) against receipts. Now it is unaccountable cash. Just play by the rules and you should do fine. Try to game the system and that will be a problem sooner or later. May pass accounting but will not pass audit which could be up to two years after-the-fact. Most recompensation policies are generous. Having said that, if you travel and claim per diem, the company expects you to stay in a hotel - not with friends or family.
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Post by vkriyaz on Dec 28, 2015 4:43:10 GMT
Hi,
Is this compensation is applicable for all payroll or only for the western payroll (global)? I am residing at present in Kuwait and I am in Asian Payroll. If applicable, what are the documents required to submit. Thanks in advance.
vkriyaz
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Post by ToesInTheSand on Dec 28, 2015 16:49:28 GMT
All I needed was copies the sales receipt, in my case from Carmax and a copy of my registration to prove previous ownership.
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Post by alter_alberta on Dec 29, 2015 5:33:27 GMT
I had an interview in October and haven't heard back from ASC recruiter in Houston.
I assume the process is slowly progressing but in the meantime, I have following question and appreciate if someone can provide me information:
1. I am planning to trade my existing van and like to buy new one. The trade value will be around $5,000 and new van value will be around $40,000.
2. Should I keep my old van and don't sell it? I read from one post that Aramco offers 1xbase salary for each vehicle. If that is the case then assuming my base salary is $10,000 then it is worth for me to take $10,000 rather than $5,000 trade value.
3. If I buy new van of $40,000, should I sell it to the dealer who can let's say paying me $30,000. In this case, will aramco also pay me 1xbase salary for this vehicle?
4. I currently have 2 vehicles. Will aramco pay 1xbase salary for both vehicles?
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Post by CanadianBacon on Dec 29, 2015 9:30:51 GMT
2. Unless they have changed the policy in the last few months, they will pay you 0.5 months base salary, up to a maximum of $5,000. So if your monthly base salary is $8,000, the most you can get is $4,000. If your monthly base is $10,000 (or more), the most you can get is $5,000. edit: After double-checking, it's only 0.5 month's salary, not 1 month's salary.
3. They will pay you, but only up to $5,000 as mentioned above, no matter how much money you lose.
4. Yes, but maximum is 2 (unless they've changed the policy).
5. Also, by your username I think you are Canadian? If this is true, remember that you're selling a van in CAD, but will be reimbursed in USD. So if you get reimbursed $5,000 USD, that will be like receiving $7,000 CAD (with current exchange rates).
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Post by alter_alberta on Dec 29, 2015 20:27:38 GMT
Thank you CanadianBacon. Yes I am from Canada so exchange rate will definitely help in terms of car sell.
It may not be beneficial for overall offer in USD based on current exchange rate assuming oil price will go up in future, so as Canadian dollar. Whats your thoughts?
I had an offer in 2013 which was in Cad $ which was not inline with my package at that time. But would be interesting to see what they will offer in US$.
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Post by CanadianBacon on Dec 30, 2015 4:05:32 GMT
The current CAD-USD exchange rate certainly won't help you on the offer, and the current price of oil isn't going to help you get a higher salary either.
When you're doing the math, make sure you consider that you won't be paying taxes and your accommodations are almost free. In the end, you'll be the only person who can decide if the offer is worth it for you to make the trip here.
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Post by alter_alberta on Dec 30, 2015 15:25:21 GMT
Thank you CanadianBeacon. You are correct about the cur rent market conditions that may impact new offers from Aramco.
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Post by alter_alberta on Feb 2, 2016 4:38:23 GMT
Hi
Just to let you all know that Aramco has discontinued the assistance for vehicle sale compared to what was being offered earlier.
In this case, everyone has to take care of sale without any payment from aramco.
Cheers,
Alter
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Post by teeboy12 on Feb 2, 2016 21:37:53 GMT
Blame the oil price - sadly I missed out on claiming the compensation for one car as I didn't want to relocate the family yet and had to leave 1 for Mrs. I take consolation in the fact that I got thousands of dollars for an old lady of a car I sold to a dealer for £75 |
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Post by UK Family on Mar 17, 2016 12:01:13 GMT
Dear all,
If this benefit was part of the of the offer letter and agreed final offer in November, surely this should still be valid? I would think that this gets phased out according to contract?
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and just recently passed the annual road worthiness test.
