Owner-Operator Reserve Account

If it's that important to you, research it. Not important enough to me to spend countless hours searching through the thousands of irs documents

 

bill, spyder is speaking of a maintenance reserve acct not an escrow acct. escrow acct are commonplace and interest is supposed to be paid on them,

a maintenance account for true owner /op is a different animal. they cant be forced. however they can be optional, for example at mercer I can choose to put an amount per load or a percentage of each load in a reserve acct to which we have free access to and mercer has no claim to. our regular escrow is only 350 bucks at mercer.

 

Does mercer have forced dispatch,are theyvlike Landstar,can you take aload when you want or do they have agents with loads just curious,thinkn bout leasing with them

 

I hate to break the news to all of you but an escrow fund can be what ever the two parties agree it is. It can be for repairs or it can be for insurance or it can be a combination of things -

 

Mercer is the most " true" non forced dispatch system I've ever worked in. They are agent based but everything is first empty, first offered.

 

Thanks,i applied with LS,waiting for response im heading in the direction of mercer also,with all the good news im hearing about them,granted every company has its bad and good sides..but if the good outweigh the bad then its a Plus..does Mercer deduct fuel cost from settlement,and do they have a plate program also or is everything on Op?

 

no forced, you pick and choose what you want. we have coordinators but they only offers loads to you, they don't take em for you, unless you ask for that , some guys do.

and there is no fuel cost to deduct, you get about half your money upfront when you are loaded, you buy your fuel then with efs card. you scan in paperwork and are paid within hours on each load.

and they have a plate program and they will lease to own a trl, you don't pay rent on theirs. I just paid mine off end of November, its mine

 

that's a different kind of escrow, the question of this thread is forcing a o/o into deducting a maintenance acct. a different animal.

 

I understand what you are saying but the problem is that the carrier is the one making the offer and if they want to use the escrow for breakdowns and general maintenance, that is all legal.

Whether it is right or not isn't what I'm saying.

What seems to be missed is the assumption that an escrow is only for insurance, it isn't. It is a withholding of revenue from the carrier to cover an agreed expense. Forcing someone to pay for a maintenance fund can be one use of the escrow but then the carrier can not touch that money and has to put it into an interest bearing account.

 

Maybe you should hire guys that don't need their hand held.

Raise your standards.

But then you'll need to raise your pay.