Escrow hasnt been returned yet.

Opirac · Dec 28, 2012

I pulled my vehicle out of Bolt Express 70 days ago and i havent received my escrow$
yet.Is this normal with that carrier?

asjssl · Dec 28, 2012

I always heard up to 45 days..70 seems long

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OntarioVanMan · Dec 28, 2012

Opirac said:
I pulled my vehicle out of Bolt Express 70 days ago and i havent received my escrow$
yet.Is this normal with that carrier?

Most seem to take the 90 day period.....as they claim IFTA issues and other possible issues...

xiggi · Dec 28, 2012

Call them and ask.

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LDB · Dec 28, 2012

What did they tell you was the reason for the delay? What exactly did your contract say?

OntarioVanMan · Dec 28, 2012

xiggi said:
Call them and ask.

Sent from my Fisher Price - ABC 123

Sometimes "simple" works very well....LOL

Turtle · Dec 28, 2012

Subpart B - Leasing regulations

§ 376.12Written lease requirements.

(k) Escrow funds. If escrow funds are required, the lease shall specify:

(6) The conditions the lessor must fulfill in order to have the escrow fund returned. At the time of the return of the escrow fund, the authorized carrier may deduct monies for those obligations incurred by the lessor which have been previously specified in the lease, and shall provide a final accounting to the lessor of all such final deductions made to the escrow fund. The lease shall further specify that in no event shall the escrow fund be returned later than 45 days from the date of termination.

Written lease requirements. - Federal Motor Carrier Safety Administration

Hightech_Hobo · Dec 28, 2012

Turtles post....That pretty much says it all....sounds like its time to make that call....

ntimevan · Dec 28, 2012

Opirac said:
I pulled my vehicle out of Bolt Express 70 days ago and i havent received my escrow$
yet.Is this normal with that carrier?

Has Qual-com, B.O L. s, handbooks, signage, all been turned in ? These are all reasons any company can withhold escrow......if this has all been turned in , then you should ask for Curt in driver relations. .

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redytrk · Dec 28, 2012

If you had a accident of any kind, even if not your fault, the will hold escrow.

purgoose10 · Dec 28, 2012

Opirac said:
I pulled my vehicle out of Bolt Express 70 days ago and i havent received my escrow$
yet.Is this normal with that carrier?

I'm not sure about their contract but most have 90 days to final up with contractors. Be thankful your not contracted to the government. GBL's usually take 180 days.

Monty · Dec 28, 2012

OP's contract is not with the government, it is with the carrier.

I'd make the call ... oh btw, have I told y'all lately I really liked Landstar?

Just sayin ....

davekc · Dec 28, 2012

A carrier's lease must follow the FMCSA's guidelines. They can put 90 days in there but it would be an invalid contract.

fastman_1 · Dec 28, 2012

Always got mine back in 30 days to the date I left

Turtle · Dec 28, 2012

davekc said:
A carrier's lease must follow the FMCSA's guidelines. They can put 90 days in there but it would be an invalid contract.

Correct.

"The lease shall further specify that in no event shall the escrow fund be returned later than 45 days from the date of termination."

The event that the Qualcom, BOLs, handbooks or signage didn't get turned in, or in the event of an accident, all of these would qualify as an "in no event" event.

paullud · Dec 28, 2012

I would have to check the exact amount of time but mine was not returned within 45 days, it was about twice that. The driver relations department was nothing more than an answering machine at that time so I'm not sure who listened to the messages. After no response we had to just start calling dispatch and keep bothering them before they issued the check.

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davekc · Dec 28, 2012

I would send a certified letter return receipt requested. If it goes to the second one, that would be be the same thing except from a attorney with their fee enclosed plus the escrow. You can guess the rest.

paullud · Dec 28, 2012

davekc said:
I would send a certified letter return receipt requested. If it goes to the second one, that would be be the same thing except from a attorney with their fee enclosed plus the escrow. You can guess the rest.

I sent my QC back insured and they had to sign for it so there was no doubt it went over 45 days. One dispatcher would claim it was so and so's responsibility and they would transfer you to the driver relations department to leave a message in the voice mail box that no one bothered doing anything about. We told them the next time not to transfer us and asked them to check, they always had an excuse like the person is on vacation or out to lunch. My guess is that they process the escrow accounts of everyone that left at the end of the fiscal quarter to save time, that's just a guess.

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moose · Dec 28, 2012

* SOooo, if 4th quarter fuel tax will not be calculated, reported & paid for till mid of January. where will the carrier take the founds to cover that ? (CV exempts) ???
seams like the 45 days rule is cutting it a bit short !.

** taxes. since you are going to get the escrow founds after the first of the year, you will need to show them on next year tax return as 'income'. and good luck explaining to the IRS how-come you have such deposit without even working for the carrier for the tax year. you will need to show how they took it off of your settlements in prior years.

*** interest on the escrow. id say demand your interest, but, well, it's not like we have any no more...LoL...

Opel2010 · Dec 28, 2012

I hate companies that require escrow... I worked for one that didn't require in the beginning, then they changed theirs minds. I told them "so long"....

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