As an Independent Contractor with Valley, you will receive a fuel card that offers a number of services including fuel, weekly cash advances, and additives. Service charges are 75 cents per transaction.
Settlements are paid weekly. Completed paperwork received Monday by 2:00 P.M. Central Time will be paid on Tuesday's settlement. TripPak envelopes are available at no charge.
A $1,500 escrow account is required for all Independent Contractors. The $1,500 escrow may be paid upfront or $250 will be deducted weekly from your settlement until your escrow reaches $1,500 in a six-week period.
The total operating authority and licensing package for 5-axle and 6-axle is $2,650 annually. Total operating authority for 7-axle and 8-axle is $3,300 annually. If you are not renewing your lease on March 1st, Valley must have written notice 90 days prior to renewal or we will assume you are renewing your license.
Valley will figure and report your quarterly fuel taxes at a low quarterly fee. The quarterly fee for filing is $85. Your filing fee and fuel tax fee will be charged on your settlement.
Seniority does not apply. The first truck to unload and call in is the first truck to load out.
Paid for by Valley. If a driver terminates his lease within one year from the date of test, $65 is charged back to your settlement.
The cost of truck lettering is $110. If the lease is terminated within one year $110 is charged back to your settlement.
The average monthly gross revenue before Valley's percentage is $20,000. A typical month can range from $16,000 to $22,000 depending on the efforts of the driver.
When pulling Valley's trailer, your percentage is 70% of the load gross. Here, you are assigned a trailer - we do not drop and hook. Pulling your own trailer pays 75% and after 90 days your percentage bumps up to 77.5%.
You will have access to paid liability and cargo insurance. Low-cost collision and bobtail insurance are available.
Paid liability insurance with a $1,000 deductible.
Occupational Accident Insurance is required by all Lease-Operators and Owner-Operators. It is $175 per month. *Prices may vary at policy renewal.
Bobtail rate is $92 monthly.
Physical damage deductible is $2,500.
The cargo deductible is $5,000. Your cargo deductible can be lowered to $500 by purchasing the Deductible Reimbursement Plan. This is $100 monthly (premiums subject to change with the policy renewal).
There is a rider policy available for passengers over 10. There is a 90-day probation period before a policy can be bought. The policy is from March 15th to March 14th of the following year at a cost of $200.
All trucks will be outfitted with the PeopleNet system. Owner-Operators will be required to pay a $500 deposit for the system (10 payments of $50). You will also be charged a usage fee of $60/month. This fee will be charged on the first of the month.
* All details subject to change.