| November 30, 2011

PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchase agreements often require an initial security escrow of $1,000 to cover expenses the lessee may fail to pay. Maintenance escrows, which are funded throughout the length of the lease-purchase, usually are required. A lease contract should state the precise purpose of escrows and that all unused escrows should be returned with interest at the end of a lease. Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and is sponsored by Freightliner Trucks.

While OverdriveOnline.com strives to maintain an open forum for reader opinions, it does not welcome comments reflecting racism, vulgarity or spam. Violations of this policy can be grounds for removal of a comment or banning a user from the comments system.