Owner/Driver Contract?

flatbedin · Nov 14, 2006

I have been trying to buy my own truck, but I am going to take everyone's advice and start out with a Owner and drive for him. He does not have much of a contract. Trying to watch out for BOTH of our best interest, I would like to write up a contract that better suits both parties and see if he would agree to it. We have already decided that it will be a 60/40 split and I pay for fuel and all tolls. He pays for all insurance, truck maintenance, ect... What all would you include in a contract, including bonuses that I should include.

I know that I am hard working, and want to make sure that we are both getting a good deal out of each other..

Thanks in advance for any advice.

RichM · Nov 14, 2006

60/40 split is pretty much the standard. I don't know what type of unit you will be driving and what your plans are but you might ask for a bonus after the truck and you generate a certain amount. I know of a team that the owner buys them 2 reasonable motel rooms every week. To me that great,I don't care how nice your sleeper is ,every so often you need to get out of it.

chuckwagon · Nov 14, 2006

Most o/o have a lawyer draw up their contract to make sure their interest our protected.
I would suggest taking their contract to a lawyer you can trust and get their input. Sure this is an expense that you really do not want but if you are serious about this profession it is well worth it.
Like the previous post stated, work in some bonus program for yourself, if your truck produces a certain dollar amount after a certain period of time.
A hotel room for a night or two? - Man that sure does sound sweet after a week or two in the truck!

panthervanman · Nov 14, 2006

Wow a bonus of a motel that would be great way don't panther do that for me after I hit a blank #s of miles or so many loads in a row.You are getting 60/40 for running a truck with a sleeper I think that if you want a room you should get a room. When I had my straight truck with a driver in it if he ran1800 miles or more for a week he would get an extra five cents a mile for all miles ran not just the ones over 1800.Those weeks when he ran 2500 mls he would get an extra 125.bucks and if wanted a room or if he wanted to just pocket the money it was his choice. Motel rooms are nice but they don't feed the kids. :7 :7 :7 ;-) panthervanman

Tennesseahawk · Nov 15, 2006

Also, I would be up front with him on a timeline, if you plan on getting your own truck.

"If I claim to be a wise man, it surely means that I don't know." - Kansas

themagicoen · Nov 15, 2006

Make sure that you and the owner are both agreed on time off and how the truck will be ran. The most important thing to remember is that your an independent contractor so if he tries to tell you when and how much time you can have off that makes you an employee. Search for post by me and find out what happens with these things aren't disscused in the contract. My owner is getting sued by me for $125,000 due to he terminated my contract because I told him I was going home.

flatbedin · Nov 15, 2006

Chuckwagon, Thanks for the reply, but the reason that I am looking to draw up a contract is that his contract is pretty much that I am an independent contractor, using his equipment, that is leased on to a company. That's pretty much it...

He has already agreed to let me take the truck to any company that I choose to lease it on with. I have a pre-hire from 2 companies right now that I am seriously considering. The truck itself is a 99 Freightshaker Fl-70 with a tag axle and rated at 44k. It has a 73" sleeper with pretty much all the ammenities of home. Including a double bunk, in which portions of time I will be running team when my father in law is able to run with me.

We talked about a 6 month trial run, at which point in time I will be able to do a lease purchase from him for a set dollar figure. At that point in time I will get 100% of the profit for a monthly truck payment.

Again thanks for all the replies guys and keep them coming.

cowboyz · Nov 16, 2006

I just don't understand why drivers and owners fight about home time.
Looks like to me it would be pretty simple, Communicate, as a owner the truck has got to run more than enough to just pay the bills. Owners are in it for a profit too. If a owner just breaks even, Then what have they accomplished? Drivers should understand whats involved in being a owner, I think as a owner you have a right to expect the equipment to produce a return. Now as a driver, You hold the ace, if you dont run a certain amount a month the owner may not profit. And if the owner don't profit then he starts looking someone that can make him profitable. I am a firm believer a driver is the back bone of a owner, they can make you or break you. I have first hand experience in this being in the trucking busniess for 8 years.
I have only 1 Subcontract driver at the present. I respect him, And he respects me. We have a great working relationship.
All owners NEED DRIVERS thats just how it is. You cant judge all owners based on one bad one, Same goes for Drivers. So to me communication is the key.

One Can't Do If
One Don't Know!!!

cowboyz · Nov 16, 2006

Not knowing the details of the agreement the owner and driver had, I can only post this... If a unit is not profitable then I have to ask why? You look for the problem, then start eliminating problems, One would hope the problem would not be the driver, But if it is, then one has to do what they have to.Alot of times a driver does not see the cost in owning a unit and maintaining a unit. Just because a driver makes money or shows a profit does not mean the owner is showing a profit. And i'm sure the owners out there don't own trucks just to keep someone in a job. It comes down to the real deal, Its all about the money. As sad as it is.... Its all about the money.