escrow accounts

[M A WEBSTER]

when these companies hold a escrow account for you to cover insurance and QC. when you leave them do they pay the interest earned on thouse accounts,over the years they held your money? Has anyone had any trouble getting their money in a timley manner from Panther II.
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[davekc]

Panther pays the escrow no later than 45 days from which they recieve your permits, their authority papers,all of QC, vehicle identification and Panther signs. They must have these items in their hands. It is not 45 days in which you told them you would quit.
In addition, interest is paid and is calculated and should be no less than the average yield on a 13 week Treasury bill.
I believe their contract says something to the effect of "the interest rate shall be adjusted no less frequently than once in a calander year.
Most carriers have a policy that is pretty simular to this.

Davekc

 

[truckerbse2]

I agree with DaveKC, they will send it back in the 45 day mark. We actually went to the terminal and had them take the stuff off and turned in our permits, that way there was no arguement about the condition it was in. They of course charged us $250. for removal. A friend took their own off and sent them in. No problem except they were still charged the $250. for the removal and uninstall.
Other than that, you will get it back unless of course you did what he escrow is in place to cover which is just leave a trailer stranded someplace or in some way damaged freight or equipment upon leaving as a shot at them.