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.
PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchas
Showcase your workhorse
Add a photo of your rig to our Reader Rigs collection to share it with your peers and the world. Tell us the story behind the truck and your business to help build its story.Submit Your Rig