UK Mail signs Heads of Terms with the Royal Mail

Business Post, the fast-growing express delivery company, is pleased to announce that its subsidiary, UK Mail Ltd, has signed Heads of Terms with the Royal Mail for access to Royal Mail’s local sorting and final delivery network.

The terms envisaged, which are confidential, are in a similar format to those of the proposed determination of 19 May 2003 by Postcomm, the independent postal industry regulator.

Detailed terms remain subject to contract, which it is intended will be signed in January 2004.

Having regard to the signature of the Heads of Terms, Postcomm will be putting on hold its revised proposed determination.

Paul Carvell, Business Post’s Chief Executive, who was signatory to the Heads of Terms together with Adam Crozier, Chief Executive of the Royal Mail, stated, “We welcome the prospect of an amicable agreement with the Royal Mail, which will be providing an integral part of UK Mail’s service, leveraging off the great strength of its local delivery network.”