Description of the Settlement Agreement

The settlement agreement provides for a fine, restitution to customers illegally charged, and a one-year probation period, each of which is discussed in more detail below. Lerner and VIP Relocation also agree to remain in full compliance with all applicable household goods carrier law and regulations. Finally, CPSD supports granting VIP Relocation's pending application, MTR 189909, for a household goods carrier permit.

Pursuant to the settlement agreement, Lerner and VIP Relocation, jointly and severally, agree to pay a fine of $20,000. If, however, they comply with the settlement agreement for one year, then $18,000 of the fine shall be permanently stayed, with the remainder, $2,000, due and payable one year from the effective date of the Commission's approval. If Lerner and VIP Relocation do not comply with the terms of the settlement agreement, then the entire $20,000 shall be due and payable immediately.

Lerner and VIP Relocation will also pay a total of $11,845 in restitution to eight persons who have submitted declarations of overcharges and loss or damage, and which have been included in the record in this proceeding. Such payments shall take place according to the schedule set out in the settlement agreement.

During the one-year period following the Commission's approval of the settlement agreement, the settlement agreement provides that Lerner and VIP Relocation will be on probation. During this time, Lerner and VIP Relocation must file quarterly reports setting forth a summary of all customer complaints received and the resolution of the complaints.