Fixed penalty ticket office

1) The place where fixed penalties are paid within the statutory period of 28 days, or where application is made for a Court hearing, following receipt of a fixed penalty notice for a traffic offence. The address of the relevant office is given on the notice.

Fixed order quantity (fixed order size)

1) An inventory control system where stock is reviewed continuously and, whenever the inventory falls to a predetermined point, an order for a fixed quantity of stock is generated. (Source: ILT Supply-Chain Inventory Management SIG)

Fixed costs

1) The costs incurred in an operation which are fixed - as opposed to variable costs. For example, VED, insurance costs, etc, which are paid annually and are therefore incurred whether the vehicle works or stands idle - hence reference to them in transport circles as standing costs. See also TIDE.

Fit person

1) Person who is considered by the Licensing Authorities to be ‘fit’ to hold a restricted ‘O’ licence. Applicants for standard ‘O’ licences must be ‘of good repute’ for which basically similar requirements have to be met.

Fiscal harmonization

1) Part of the plan for the Single European Market is to achieve harmonization (ie to bring into line) of duties and taxes charged by member states (on vehicle road tax/fuel, etc).

First test

1) In connection with goods vehicle plating and annual testing, the first annual test for which a vehicle/trailer is submitted to goods vehicle testing station (ie in the anniversary month of original registration).