Awhile back someone posted the paragraph and section regarding the interest to be paid on this account legally. Can anyone repost it please? I did a search and came up empty.Thanx...Ken
Hold back or escrow question
- Thread starter OntarioVanMan
- Start date
themagicoen
Expert Expediter
did you click search archives? Current records only go back a few months even if you choose a year. Need to make sure that the archive button is clicked. Hope that helps.
Thanx, but it was almost a year ago or so.
>Awhile back someone posted the paragraph and section
>regarding the interest to be paid on this account legally.
>Can anyone repost it please? I did a search and came up
>empty.Thanx...Ken
Are you contracted to US company ? I don't know about Canadian laws but US laws require interest to be paid and escrow to be returned within 45 working days of termination of contract . This should be written out in your contract .
>regarding the interest to be paid on this account legally.
>Can anyone repost it please? I did a search and came up
>empty.Thanx...Ken
Are you contracted to US company ? I don't know about Canadian laws but US laws require interest to be paid and escrow to be returned within 45 working days of termination of contract . This should be written out in your contract .
>>Awhile back someone posted the paragraph and section
>>regarding the interest to be paid on this account legally.
>>Can anyone repost it please? I did a search and came up
>>empty.Thanx...Ken
>Are you contracted to US company ? I don't know about
>Canadian laws but US laws require interest to be paid and
>escrow to be returned within 45 working days of termination
>of contract . This should be written out in your contract .
Ontario is an old handle now live in South Dakota and work for an American company. They seem to think they don't have to pay interest.
some long time ago posted the legal paragraph that relates to this.
>>regarding the interest to be paid on this account legally.
>>Can anyone repost it please? I did a search and came up
>>empty.Thanx...Ken
>Are you contracted to US company ? I don't know about
>Canadian laws but US laws require interest to be paid and
>escrow to be returned within 45 working days of termination
>of contract . This should be written out in your contract .
Ontario is an old handle now live in South Dakota and work for an American company. They seem to think they don't have to pay interest.
some long time ago posted the legal paragraph that relates to this.
greg334
Veteran Expediter
§376.12 Written lease requirements.
(k)(5) That while the escrow fund is under the control of the carrier, the carrier shall pay interest on the escrow fund on at least a quarterly basis. For purposes of calculating the balance of the escrow fund on which interest must be paid, the carrier may deduct a sum equal to the average advance made to the individual lessor during the period of time for which interest is paid. The interest rate shall be established on the date the interest period begins and shall be at least equal to the average yield or equivalent coupon issue yield on 91–day, 13–week Treasury bills as established in the weekly auction by the Department of Treasury.
(k)(5) That while the escrow fund is under the control of the carrier, the carrier shall pay interest on the escrow fund on at least a quarterly basis. For purposes of calculating the balance of the escrow fund on which interest must be paid, the carrier may deduct a sum equal to the average advance made to the individual lessor during the period of time for which interest is paid. The interest rate shall be established on the date the interest period begins and shall be at least equal to the average yield or equivalent coupon issue yield on 91–day, 13–week Treasury bills as established in the weekly auction by the Department of Treasury.
Gregg...where'd ya find this?
and thanx!
and thanx!