So, let’s take a look!
1. The Basics Of Becoming Leased Owner Operator
Since you are one step further in becoming leased owner operator you should make sure to cover the basics.
Thereupon, there are few points that you as a future leased owner operator should cover.
First and foremost, you will have to identify the parties involved, and get signature by parties to the agreement. Straight after you will have to define the duration of the lease and identify all equipment involved.
Moreover, the leased owner operator should clearly state that the carrier has possession and control for the term of the lease.
In addition, the process of defining the lease termination procedures should not be put aside.
On the other hand, when it comes to the payment process, we can notice that there are several rules that leased owner operators are leading themselves by.