(lease truck version)
independnt contractor operating agreement
This was agreement on the 20th day of Jan.
For a 2004 Freightliner Century Class for there lease purchase group.
TRactor 376168 Model cst12070rr Vin IFUJBBCG24LM73222 license# 2dn-839 State OK Hub 140,184 Sales price of tractor $81,150 Lease term (months) 36.interest rate (Prime 2.5%) Monthly payment $1,958 weekly $490.00.
Purchase price at end of lease $20,933. Signed by V. P IC Group C. B Mahaffey. Weekly these things must be deducted from driver settelment Fuel Repayment from use of comdata. Tractor payment $490.00, Insurance bob Physical and Occupational Accidental $280.41 per month. And for all fines/penalties/court cost. Escrow fund $100.00 and maintenance escrow $123.45 weekly. This contract was written to be 36 months how ever year to year renewals.
This contract have a 7th clause that stated'The trem of this Agreement will commence upon execution and delivery of the receipt of equiment to Carrier as reflected by Appendix A, and shall end at midnight one year later. It shall be renewed and extended automatically from year to year thereafter unless cancelled or terminated under the provisions of this Lease Agreement. Either party may terminate this Agreement upon wriyyen notice or by on board written transmission in the event of serious breach by Contractor. A serious breach shall be defined (1) evidence of a felony committed while in operation of the lease equipment: (2) evidence of a chargeable personal injury accident: (3) violations of U.S. DOT safety regulations which imperil Carrier's safety rating: (4) unauthorized yse of leased equipment: and (5) and any breach of service obligation which imperil carrier's license, permits, insurance, or customer relation. So I would like to add the 18 th clause. Fines, Penalties, Court Cost. Contratractor will remdurse Carrier forr the actual cost to Carrier of all fines, penalties and reasonable attorney fees and cost reulting from Contractor's improper operation of the Eqiupment. Even if preloaded and the traler is fine for over wieght. To sum up a very perplex document. I was call for a cross country loaded and ask top stop in at the corp office terminal in Lowell, AR for the first time ever in one or two years as a company driver.
Once there I was told my contract was being cancelled with 4 hour notice.
I once mailed in a citations that was to be payed out of my settlement if I did not opt a trail to despute it. They seized my escrow account and truck. A 30 day notices was to be gie in this case be cause if the driver was unable to drive they could hire ther on employee. After 3Qters 101 loads 48k miles 49k$ On time del 91% late 9%year 2005 Turndowns on loads n/a U. S & can
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