This Agreement is made and entered into between:
The Fleet Driver (hereinafter referred to as "Driver"), a 1099 independent contractor, and
Catalyst Development Group DBA UACL Terminal 2974 (hereinafter referred to as "Terminal").
Purpose: This Agreement outlines the terms and conditions for the release and return of equipment provided by the Terminal to the Driver for operational purposes.
1. Condition of Equipment: The Driver acknowledges and agrees that they have received the truck and any associated equipment in the condition as noted and documented by Catalyst Development Group DBA UACL Terminal 2974 at the time of release.
2. Return of Equipment: The Driver agrees to return the equipment in the same condition as received, accounting for normal wear and tear. This includes, but is not limited to, the following items being returned with the equipment:
Fuel (at the same level as received, unless otherwise specified)
Electronic Logging Devices (ELDs)
Fuel card
Vehicle Tag
All parts and components of the equipment (truck and trailer, if applicable)
3. Return Location: Unless explicitly approved otherwise in writing by Catalyst Development Group DBA UACL Terminal 2974, all equipment must be returned to the yard located in York, SC.
4. Financial Responsibility for Discrepancies: In the event of any discrepancies upon the return of the equipment, including but not limited to:
Truck or trailer abandonment
Damaged property beyond normal wear and tear
Accidents involving the equipment
Equipment impoundments
The Driver acknowledges and agrees that their final pay may be withheld for a period of up to forty-five (45) days. This period is necessary to allow for the invoicing and finalization of all associated bills and costs related to the aforementioned discrepancies.
5. Settlement of Costs:
If the Driver's final pay is greater than the total cost of repairs, damages, or other invoiced expenses: The Driver will receive the remaining balance of their final pay after all such invoices have been fully paid by the Terminal.
If the Driver's final pay does not cover the total cost of repairs, damages, or other invoiced expenses: The remaining balance of the final pay will be intercepted and applied directly towards these costs. The Driver will then be billed for any outstanding amount that exceeds their final pay, and prompt payment will be required.
Acknowledgement and Agreement: By signing below, the Driver acknowledges that they have read, understood, and agree to all terms and conditions set forth in this Equipment Release Agreement.