We recently made some changes to the CloudTrucks repayments system and how policies are paid back from driver job statements. Here are the answers to our most frequently asked questions.

What types of charges fall under my CT policy repayments?

Charges (or payment owed) for any add-on product or service you purchased through CloudTrucks counts as a CT policy repayment. This includes your ELD, trailer rental, plates, and other items.

How is my CT policy repayment rate calculated?

Your repayment is calculated every Monday at midnight PT by dividing the repayments you owe for the upcoming week by your average weekly load volume. Once calculated, you will receive an email with your repayment rate for the coming week.

How is the CT policy repayment rate applied to my job statement?

When you complete a load, the repayment rate is deducted from your total line haul revenue on each load and evenly applied to any open policy repayments.

How come the dollar amount applied to each job statement varies?

Because your total line haul revenue varies from load to load, the dollar amount applied to your repayments may seem like it fluctuates. However, we will only ever apply the same repayment % across all over your jobs in a week. It may seem like more money is taken out of individual policies on higher paying loads and less money is taken out of individual policies on lower paying loads, but that is because your policies are repaid on a per-load basis. At the end of the week the same repayment rate will be applied to each completed load until your outstanding policy repayments with CloudTrucks are paid off.

Does my CT policy repayment rate include my lease-on and insurance fee?

No it does not. Although both are deducted from your line haul revenue on each load, your CT policy repayment rate is separate from your lease-on and insurance fee.

How can I keep my CT policy repayment rate low?

The best way you can keep your repayment rate low is to:

  1. Drive consistently to keep a high weekly load volume.

  2. Stay on top of your repayments. Make sure you pay your CT policies on time and in-full. If you take a week off from driving, use the 'Pay Now' feature in the app to pay any outstanding policies

How can I check how much I owe on my CT policies?

You can review your policies at any time from the "Payments Progress & Escrow" page in the BI dashboard on the CT app. Watch this video to learn how:

How can I manage my CT policy repayments to be financially successful?

  1. Every Monday, review all of your upcoming policy repayments for the week in the CT app (see video above)

  2. After you finish a job, review the statement to see how much money was applied to each policy

  3. Go to the "Payments Progress & Escrow" page from the BI dashboard to see how much is due for the rest of the week

  4. At the end of the week, check your policies again and use the 'Pay Now' button to catch up if needed (see video below)

What if I take out a cash advance on the load?

The system will deduct the full repayment rate regardless of whether or not you have taken a cash advance on a load. This means that you may see statements with a lower payout upon job completion, because the bulk of the load was paid out with the cash advance.

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