Part 376 — Lease and Interchange of Vehicles

The FMCSA rulebook for owner-operator leases, equipment control, settlements, and interchange.

Applies to authorized carriers, owner-operators, fleet owners, dispatch/accounting teams, and interchange parties.

A compliant written lease should identify equipment, dates, possession, receipts, and carrier service.

During the lease, carrier authority, possession, control, and responsibility must be clear.

Owner-operator pay must clearly explain percentage, mileage, flat, variable, or other compensation terms.

Deductions must be listed, calculated, supported, and tied to clear lease authority.

Lease insurance terms should explain public liability, bobtail, physical damage, cargo, and chargebacks.

Escrow terms should explain amount, purpose, deductions, accounting, interest if applicable, and return timing.

Settlement timing depends on required delivery documents, rated freight bills, and chargeback proof.

Equipment interchange needs a written agreement covering equipment, transfer points, use, pay, and signatures.

A practical checklist for leases, equipment ID, compensation, deductions, insurance, escrow, and interchange.

Unclear leases create pay, deduction, insurance, escrow, liability, and equipment-return disputes.