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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

generalized cost

Language : PIARC Road Dictionary / English
Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
Definition : Sum of the monetary and nonmonetary costs incurred by a road user in making a journey. Notes: In private transport monetary costs include cost of fuel, wear and tear (depreciation and maintenance), and any parking charge, toll or congestion charge on the journey. Non-monetary costs can include user perceptions of convenience and comfort. 2. In public transport monetary costs include transport fare. Non-monetary costs can relate to travel time, which may include access and egress time, waiting time and transfer time in addition to in-vehicle time.

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