# Owner operator settlement software that pays inside 15 days and shows every deduction on the statement

> An owner operator settlement is the pay statement a motor carrier issues to a leased owner operator: gross revenue or mileage pay, minus the chargebacks the lease allows, plus or minus escrow movements. It is regulated, not discretionary. 49 CFR 376.12 requires payment within 15 days of the delivery documents, an itemised explanation of every deduction, a written accounting of escrow, and return of the escrow fund no later than 45 days after termination. Neurobird builds that statement from the lease.

- URL: https://neurobird.com/owneroperator/
- Product: Neurobird Owner Operator Settlement Operations Platform
- Niche: owner operator settlement
- Buyer: carriers that settle owner operators
- Status: in development, open for early access
- Updated: 2026-08-21

## What Neurobird Owner Operator Settlement does

- Compute pay from the lease terms: percentage of gross, mileage or a mixed rate, with the rated freight bill attached
- Itemise every chargeback with the method of computation the lease states, before the money is deducted
- Keep a per driver escrow ledger with deposits, deductions, quarterly interest and a return clock
- Close settlements inside the 15 day window and show the driver the same arithmetic you used

## How it works

1. **The lease is the source** Pay basis, chargeback list, escrow amount, interest terms and termination conditions are held as data, so the statement cannot contain a line the lease does not allow.
2. **Every deduction is explained** Each chargeback carries its computation and the supporting document, because the rule requires the lessor to be able to check the validity of the charge.
3. **Escrow keeps its own book** Deposits, applications, quarterly interest and the 45 day return clock live on a per driver ledger, not inside a single company balance.

## From the source material

> If you are a business owner hiring or contracting with other individuals to provide services, then you must determine whether the individuals providing services are employees or independent contractors.

Source: IRS, independent contractor or employee, https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee

## Industry context

- **15 days** The lease must specify that payment is made within 15 days after submission of the necessary delivery documents, and the carrier may not set a submission deadline of less than 15 days from the end of the trip. (source: eCFR, 49 CFR 376.12(f), https://www.ecfr.gov/current/title-49/section-376.12)
- **45 days** Where an escrow fund is required, the lease must state that in no event is the fund returned later than 45 days from the date of termination, with a final accounting of every deduction made from it. (source: eCFR, 49 CFR 376.12(k), https://www.ecfr.gov/current/title-49/section-376.12)
- **91 day** While the carrier holds an escrow fund it must pay interest at least quarterly, at a rate at least equal to the average yield on 91 day, 13 week Treasury bills set in the weekly Treasury auction. (source: eCFR, 49 CFR 376.12(k)(5), https://www.ecfr.gov/current/title-49/section-376.12)
- **376.12** Paragraph (h) requires the lease to specify every item that may be charged back, together with how the amount of each item is computed, and requires the lessor to be given the documents needed to check the charge. (source: eCFR, 49 CFR 376.12(h), https://www.ecfr.gov/current/title-49/section-376.12)
- **376.11** A written lease is required, receipts must be given when possession passes in each direction, and a copy of the lease must be on the equipment for the duration of the lease. (source: eCFR, 49 CFR 376.11, https://www.ecfr.gov/current/title-49/section-376.11)
- **70 hours** Duty limits of 60 hours in 7 days or 70 hours in 8 days shape what a leased driver can legally earn in a settlement period, which is why the log and the statement belong in the same conversation. (source: eCFR, 49 CFR 395.3, https://www.ecfr.gov/current/title-49/section-395.3)

## Pricing

- Small fleet: $220 per fleet, per month
- Settlement office: $480 per fleet, per month
- Multi entity: $860 per fleet, per month

## Questions

### What is an owner operator settlement?

It is the periodic pay statement a motor carrier issues to a leased owner operator. It shows the pay basis from the lease, the revenue or miles it applies to, every chargeback the lease permits with its computation, and any escrow movement. Under 49 CFR 376.12 it is a regulated document, not an internal worksheet.

### What are the truth in leasing rules?

They are the federal requirements in 49 CFR Part 376 that govern leases between authorised carriers and equipment owners. They set out what the written lease must contain, the receipts required when possession changes hands, the 15 day payment period, itemised chargebacks, insurance disclosure and how an escrow fund must be accounted for and returned.

### Does this replace our accounting system?

No. The ledger stays where it is. What lives here is the settlement itself: the lease terms it is computed from, the documents that support each line, and the escrow ledger per driver, so the statement and the payment agree without a spreadsheet in between.

### How is escrow handled?

As a ledger for each driver rather than a single company balance. Deposits, applications against the items the lease names, quarterly interest and the 45 day return clock all sit on the same record, so the final accounting at termination is already written.

### Can drivers see how a number was reached?

Yes. Each chargeback carries the method of computation from the lease and the supporting document, because the rule gives the lessor the right to see what is needed to determine whether the charge is valid.

### Does it handle percentage of gross pay?

Yes. Where pay is a percentage of gross revenue the rated freight bill has to be provided at or before settlement, so the statement carries the rated document rather than a summary line.

## Sources

- [49 CFR Part 376, lease and interchange of vehicles](https://www.ecfr.gov/current/title-49/subtitle-B/chapter-III/subchapter-B/part-376)
- [49 CFR 376.12, lease requirements](https://www.ecfr.gov/current/title-49/section-376.12)
- [49 CFR 376.11, general leasing requirements](https://www.ecfr.gov/current/title-49/section-376.11)
- [49 CFR Part 395, hours of service](https://www.ecfr.gov/current/title-49/subtitle-B/chapter-III/subchapter-B/part-395)
- [IRS, Form SS-8](https://www.irs.gov/forms-pubs/about-form-ss-8)
- [IRS, independent contractor or employee](https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee)

## Contact

- office@neurobird.com
- https://neurobird.com/