NewsAttention: All Members
June 11, 2008
Re: Automotive Lock Recoding Rates
We have been in discussions with ICBC over the past 3 months in regards to modifying the recoding rates pertaining to automotive lock cylinders. As you know the existing rates have been stagnant for the past six years despite repeated increases in the cost of materials and labor. These cost increases have long ago eroded any profits based on 2002 economies. The negotiated rates will allow our industry make a profit again and allow us to continue to extend discounts to other portions of the automotive repair industry, thereby allowing body shops and other similar entities to cover the transportation costs associated with getting the recoding work done at an accredited Locksmith Shop.
