| Down Payment Required |
No money is required to be placed down. |
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| Pay % of Load |
70% of Gross Revenue. |
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| Accessorial Charges |
70% of Stop off, Tarp Pay, and COD collection when paid by Customer. |
| Detention Charges |
70% of what Customer pays. |
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| Fuel Surcharge |
100% Passed on to the I/C |
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| Settlement |
Weekly with Direct Deposit settlement sheet mailed. |
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| Orientation Pay |
$400.00 per week. |
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| Trip Advance |
Up to $200.00 per week. |
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| Fuel |
Fuel Card Available - our fuel stop network must be used. |
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| Tolls, Fines, Scale |
I/C is responsible for payment. |
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| Over Weight Tickets |
I/C is responsible for unless trailer is preloaded. |
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| Repairs, Breakdowns |
I/C will have access to Hornadys' purchase discounts. |
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| Walk Away Lease |
If something happens, you can walk away with very limited obligations. After all paperwork and related expenses have been tabulated, all monies in the escrow accounts over the amounts owed will be refunded. |
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| Who Can Lease |
Any driver with one year driving experience and some flatbed experience. |
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| Cab Protection |
Cab protector (headache rack) comes with the truck and is included in lease purchase. |
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| Tie Down Equipment |
Tie down equipment comes with the truck. This is minimum equipment that Hornady Transportation requires to be on the truck at all times. This equipment is included in the lease purchase. |
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| Communications Equipment |
Qualcomm communication is provided with the truck. The lessee is responsible for a $15.00 per week fee. The ownership of this equipment stays with Hornady Transportation, LLC |
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| Lease Purchase Area |
Louisiana, Mississippi, Alabama, panhandle of Florida, Georgia, South Carolina, North Carolina, Virginia, Tennessee, Kentucky, Indiana, and Ohio |
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| Accident Cost |
Contractor is responsible for the first $2,500.00 if involved in an accident that results in both trailer damage and a cargo claim. |
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| Accident / Cargo Escrow |
An accident/cargo escrow is required. This covers the first $2,500.00 for any related damages that might occur. Interest is paid quarterly on the amount in escrow. Deducted at $100.00 weekly for the first 25 weeks. |
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| Base Plate |
$25.00 weekly rental for the full term of lease purchase. |
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| Road Use Tax |
Hornady pays the road use tax for the lessee and charges it back - Total of $550.00 yearly. |
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Bob-Tail / Non-Trucking
Liability |
$1,000,000.00 Minimum.
Required coverage.
Current monthly cost is $36.00. |
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| Collision / Physical Damage |
Required coverage. |
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| Occupational Accident |
Required coverage.
Current monthly cost is $154.50. |
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| Maintenance |
The lessee will be responsible for repair and maintenance on the equipment including the communication keyboard system during term of lease purchase. Maintenance or repairs on any of the equipment including the communication equipment keyboard must be authorized and coordinated through Hornady Maintenance. |
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| Maintenance Escrow |
As with the lease payments, two skips per year have been built in the maintenance escrow fund. The payment is deducted weekly at $129.00 for the 150 weeks of the lease purchase agreement. At the end of the lease purchase, any monies left in the maintenance escrow fund will be returned to the lessee. The maintenance escrow agreement covers everything over $250.00 except accident or cargo claims. Lessee is responsible for first $250.00 of any maintenance cost including PM services. The $250.00 can either be paid for by the lessee at time of repair or maintenance can be deducted from their settlement. |
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| Title / Ownership |
Once the lease purchase is completed, title to the truck and ownership of all equipment except the communication equipment and tarps will be transferred to the lessee. |
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| Problem Resolution Panel |
A three-person panel will hear any problem that a lessee may be having, when the problem cannot be solved by driver manager or program manager. |
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