Your Truth-in-Leasing rights, in the words of the rule
Part 376 says what any lease between you and a carrier must contain. Four clauses are worth finding before you sign anything, and here they are quoted.
- Author
- Relay Dispatch Desk
- Published
- 18 Aug 2026
- Verified
- 15 Aug 2026
- Re-checked
- annually
Key takeaways
- Part 376 governs the lease between an owner-operator and a carrier, and it is written for your protection.
- Payment is due within 15 days of submitting the documents needed to bill the load.
- Any escrow has to be accounted for and returned within 45 days of termination.
- Charge-backs must be itemised in the lease itself, not decided afterwards.
What the regulation says
The lease shall specify that payment to the lessor shall be made within 15 days after submission of the necessary delivery documents and other paperwork concerning a trip in the service of the authorized carrier.
49 CFR § 376.12(f)
Relay's line
Fifteen days runs from when you submit the paperwork, not from when the broker pays the carrier. If a lease ties your settlement to somebody else's payment, that is the clause to ask about.
Escrow — often called a maintenance or performance fund — has to be accounted for while it is held and returned within 45 days of termination, less any amounts the lease permits.
Every charge-back has to be identified in the lease. If a deduction appears on a settlement and you cannot find it in the document you signed, that is worth a conversation before it becomes a habit.
A copy of the lease, or a statement certifying it exists and where the original is kept, rides on the equipment for the term of the lease.
Sources
- eCFR (GPO/OFR) · 49 CFR Part 376 — Lease and Interchange of Vehicles · 49 CFR Part 376 · accessed 15 Aug 2026
- eCFR (GPO/OFR) · 49 CFR § 376.12 — Written lease requirements · 49 CFR § 376.12 · accessed 15 Aug 2026
Re-verified annually. Educational summary — the regulation controls. Not legal advice.
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