Settlement: A settlement is the statement a carrier gives a driver or owner operator showing earnings from completed loads minus deductions such as fuel advances, insurance, escrow and fees.
Why it matters to owner operators
Review each settlement against your own load records. Errors and unexpected deductions are easier to fix when caught early.
Example
A weekly settlement lists each load’s pay, then subtracts a fuel advance and an insurance deduction, leaving the amount deposited.
Related terms
Business & Finance: Questions about invoicing, fees or getting paid on time? Our dispatch team handles invoicing and broker follow-up for the carriers we work with. Talk to our dispatch team or browse the full trucking glossary.
Haul smarter with a dispatch team behind you
Nexloads finds loads, negotiates rates and handles paperwork for owner operators and small fleets. No forced dispatch and no long-term contracts.