Understanding your statement & deductions

At CloudTrucks, we want to keep things simple and transparent. This article helps you understand how to read your job statement so you know how much money you take home and what CloudTrucks collects for our fees and your deductions. 

As a reminder, your 18% lease-on and insurance fee is collected from the total line haul revenue of a completed job first. Then, your deductions % is collected from the remaining line haul revenue until the total amount you owe CloudTrucks for your deductions is $0. 

Example of what your statement & deductions may look like

CloudTrucks lease-on & insurance fee

18% of each completed load 

13% of this goes towards lease-on service fee and 5% covers the group auto liability & cargo insurance we automatically enroll you in.

Deductions 

ELD: $30 per truck per month	All Virtual Carrier customers are required to run on a Motive ELD which we provide.
Escrow account: $2,000 per truck	We also require all drivers to contribute to an escrow account. We collect this deduction slowly at $100/week over 20 weeks, beginning two weeks after your first completed load. Once your escrow account is fully funded, those funds are held as a security deposit for when your account is closed, to cover any remaining balances. If there are funds left over, they are refunded to the driver.
Plates: ~$2,500 per truck per year (pro-rated)	If you get plates through CloudTrucks, we'll charge you $50/week for them.
Trailer: $200-$250 per trailer per week	You have the option of leasing a dry van or flatbed trailer through CT.  $200/week for dry van $250/week for flatbed
NTL and Occ Acc Insurance:	We partner with Reliance for NTL and Occ Acc insurance for our drivers. The cost is $38/week.

Other statement deductions

Tolls or violations	If you have to pay for a toll or violation, CloudTrucks will collect that amount as a deduction.
IFTA taxes (quarterly)	This varies on the states you've driven through and the total amount of fuel you've purchased.
Crossroads truck note	If you purchase a truck through our partner, Crossroads, your truck note will be deducted weekly as well.

Disclaimer: These deductions are subject to change. Any customer may opt out of many of these deductions (except ELD & escrow account) to keep their deduction % lower.