Our standard fee is 3.5% of the gross load rate. We do not take any hidden fees such as set-up, minimum amount, credit check, or transaction fee.
We'll pay you through an ACH deposit within 1 business day. However, the time it takes for money to hit your account depends on your bank.
We cover all valid loads, though we reserve the right to reject a load, for example, if the it's 3 months old. We do not require volume commitment.
Non-recourse means we handle all collections on loads that are moved through InstaPay. Thus, we help you focus on what matters. Learn more
Published Date: November 30, 2017
Trucker Path Inc. (collectively “Trucker Path”, “I”, “We”) offers to purchase Accounts from FMCSA licensed motor carriers (collectively “Carrier”, “you”, “your”) through its mobile applications, web site, and call center (collectively the “Services”). Such Services may include, handling paperwork and processes between entities shipping cargo and/or freight/shipping brokers (collectively “Freight Broker(s)”) and Carrier.
Trucker Path desires to provide Carrier with Services and Carrier desires to have Trucker Path perform Services on Carrier’s behalf, on a shipment-by-shipment basis, subject to and in accordance with the terms and conditions of this Agreement. This Agreement is a legally binding contract between you and Trucker Path regarding your use of the Service. You may request a copy of this Agreement by emailing us at email@example.com.
All capitalized terms not herein defined shall have the meanings set forth in the Uniform Commercial Code, as enacted in the State of Texas (“UCC”).
BY CLICKING ACCEPT ON OUR WEB PAGE, OR OTHERWISE ACCESSING OR USING THE SERVICE, YOU AGREE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY THIS AGREEMENT. IF YOU DO NOT AGREE, YOU MAY NOT USE THE SERVICE
Scope of Trucker Path Services. Trucker Path will provide the InstaPay service (“InstaPay”),a factoring payment and fuel advance service where Carrier offers Accounts for sale, without recourse, to Trucker Path through the Services and Trucker Path may, but shall not be required to, purchase such Accounts in Trucker Path’s sole discretion. Upon receipt by Trucker Path of an accepted Bill of Lading, rate confirmation and any other documents reasonably required by Trucker Path, Trucker Path will notify you through the Services (a “Purchase Notice”) as to which Accounts have been purchased by Trucker Path (“Purchased Accounts”). Trucker Path will pay you for a Purchased Account by initiating an ACH transfer in the amount of the Purchase Price within forty-eight (48) hours of the date of the Purchase Notice, whereupon the Account shall be deemed purchased hereunder. As used herein, “Purchase Price” means the face amount due on the Purchased Account at the time of purchase less charges, offsets and deductions to which the Freight Broker is entitled (the “Face Amount”),less the InstaPay Fee, the amount of any InstaPay Fuel Advance relating to the rate confirmation that gave rise to the Purchased Account, and any unpaid InstaPay Fuel Advance Fees (as defined herein) and processing fees due on such InstaPay Fuel Advance.
Trucker Path’s rights to the Accounts. You agree that you are engaged in a commercial enterprise and that this Agreement and the Services are intended to be an “account purchase transaction,” as defined by Texas Finance Code § 306.001(1) and pursuant to Texas Finance Code § 306.103, it is conclusively established that no amount charged hereunder shall constitute interest. You further acknowledge that in accordance with § 9-109(e) of the UCC, it is conclusively established that the transactions under this Agreement and the Services are sales of Accounts and not secured transactions, and that, upon purchase of a Purchased Account the title to such Purchased Account, legal and equitable, shall pass to Trucker Path regardless of whether Trucker Path has any recourse against you, whether you are entitled to a surplus, or any other terms of this Agreement. In order to secure all present and future obligations owing by you to Trucker Path whether arising hereunder or otherwise, and whether arising before, during or after the commencement of any bankruptcy case in which you are a debtor (the “Obligations”),you hereby: (i) assign to Trucker Path all your now owned and hereafter acquired Accounts, Chattel Paper, Inventory, Equipment, Instruments, Investment Property, Documents, Letter of Credit Rights, Commercial Tort Claims, and General Intangibles (“Collateral”) and (ii) grant to Trucker Path a continuing security interest in the Collateral.
You agree Trucker Path has the right to apply offsets for any amounts due to Trucker Path under this Agreement against any amounts owing by Trucker Path to you. You authorize Trucker Path to notify any Account Debtor obligated with respect to any Account, that the underlying Account has been assigned to Trucker Path by you and that payment thereof is to be made to the order of and directly and solely to Trucker Path and to communicate directly with your Account Debtors regarding the Account including among other things, to verify the amount and validity of any Account offered by you.
Non-Recourse. Upon purchase, Trucker Path will assume the risk of non-payment on Purchased Accounts, up to the Insolvency Loss, so long as (i) the cause of non-payment is solely due to an Account Debtor becoming Insolvent, and (ii) the Account Debtor is not an affiliate of Carrier. As used herein, (a) “Insolvency Loss” means the Face Amount of a Purchased Account less the InstaPay Fee accrued on such Purchased Account, and (b) “Insolvent” means, an Account Debtor who fails to pay a Purchased Account solely as a result of its financial inability to pay. The burden of proof as to the insolvency of an Account Debtor shall rest solely on the Carrier, with it being presumed that at all relevant times an Account Debtor is not Insolvent.
Repurchase of Accounts. Carrier shall repurchase, by payment of the then unpaid Face Amount thereof together with any unpaid fees relating to the Purchased Account on demand:
Notwithstanding Insolvency. Notwithstanding an Account Debtor becoming Insolvent:
Absent Insolvency of an Account Debtor. If an Account Debtor has not become Insolvent on or prior to the Late Payment Date, any Purchased Account which remains unpaid beyond the Late Payment Date (“Repurchased Account”). As used herein, “Late Payment Date” means thirty-one (31) days from the date on which a Purchased Account was purchased.
On any Insolvency Date which occurs prior to the termination of this Agreement, Trucker Path shall pay to Carrier the Insolvency Loss with respect to a Repurchased Account, where the Account Debtor has become Insolvent, other than an Account which Carrier has repurchased or could be required to repurchase hereunder. As used herein, “Insolvency Date” means the date on which Trucker Path has reasonably determined that an Account Debtor has become Insolvent.
If Carrier is an existing InstaPay user, and Carrier qualifies, which qualification shall be solely in Trucker Path discretion, Carrier may be offered an advance upon submission of a rate confirmation expected to give rise to Purchased Accounts (“InstaPay Fuel Advance”). An InstaPay Fuel Advance is only available on the Face Amount reasonably expected to be generated by an Account arising from the rate confirmation (“Anticipated Face Amount”). InstaPay Fuel Advance is available for same day processing of up to 45% of the Anticipated Face Amount upon receipt of a valid rate confirmation prior to 08:00 A.M. Central Time. Trucker Path will make commercially reasonable efforts to enable Carrier to receive funds in the same business day. Carrier shall offer the Account arising from the rate confirmation to Trucker Path for purchase through InstaPay. Carrier shall pay to Trucker Path, on demand, the balance of all unpaid InstaPay Fuel Advances and all processing fees and InstaPay Fuel Advance Fees accrued thereon.
Trucker Path reserves the right not accept any load, from any Carrier, for any reason. You will receive confirmation of approval to use InstaPay, sent by email, within five (5) business days of receipt by Trucker Path of Carrier’s executed Agreement and completed corresponding onboarding documents. It is Carrier’s responsibility to verify that Trucker Path has approved the purchase of your Account. Trucker Path reserves the right to withdraw approval to use the Service at any time, for any reason.
Trucker Path Responsibilities. Trucker Path shall not request or in any way pressure Carrier to violate any federal, state or other applicable law with respect to Carrier’s motor carriage operation. If Carrier requests, Trucker Path will make available a statement, either in electronic or tangible form, setting forth the transactions arising hereunder. Carrier may request as many statements as are commercially reasonably necessary. Each statement shall be considered correct and binding upon Carrier as an account stated, except to the extent that Trucker Path receives, within fifteen days after delivering such statement, written notice from Carrier of any specific exceptions by Carrier to that statement, and then it shall be binding against Carrier as to any items to which it has not objected.
Carrier Responsibilities. Carrier represents that it has full authority to enter into this Agreement, and to make the assignments hereunder. Carrier agrees to maintain all proper licenses and permits to conduct business as a motor carrier in the areas of intended operation and agrees to maintain liability and cargo insurance at the amounts set forth by the home state of the carrier and all U.S. Law. Trucker Path will be held harmless, and Carrier shall indemnify Trucker Path for same, in the event of any and all claims arising out of Carriers failure to adhere to its responsibilities herein. Carrier agrees to provide all documents as required by the Service, and acknowledges such document requirements may change at any time. Carrier agrees it will not encumber in anyway any Account, or necessary documentation for any Account that is the subject of this Agreement. Carrier warrants and represents that there are no prior claims, rights or interests in the Accounts. Carrier agrees not to offer an Account if the Account is already encumbered, or is altered or tampered with, any such offer shall be null and void. If Carrier receives payment for any Purchased Account, or if Carrier receives an overpayment or other payment of any kind, Carrier will immediately contact Trucker Path (at InstaPay@truckerpath.com or 855-777-2242) and pay such funds, within ten (10) calendar days after receipt by Carrier, to Trucker Path via check or ACH transfer. If Payment is not received within ten (10) calendar days, in addition to any other remedies in law or equity, Trucker Path reserves the right to suspend, cancel, seek reimbursement, or offset any pending or future payments under this Agreement, and to charge a 5% processing fee. Carrier agrees to provide original copies of Bill of Lading (“BOL”) and/or payment on delivery (“POD”) and/or rate confirmation via any method required, as specified by Freight Broker within the timeframes specified by Trucker Path, which may change from time to time without notice. You will not factor, sell, transfer, pledge or give a security interest in any of your Accounts to anyone other than Trucker Path during the term of this Agreement and there are, and shall at no time be, any form of notice of lien or financing statement now or hereafter on file in any public office covering any of the Collateral except a financing statement filed naming Trucker Path as the secured party in respect of this Agreement.
RELATIONSHIP OF PARTIES
Trucker Path as Service Provider. Trucker Path is an independent provider, performing the Service on behalf of Carrier. Nothing in this Agreement will be construed as establishing an employment relationship, joint venture, joint enterprise, partnership, or any other relationship between Trucker Path and Carrier.
Authorization to Trucker Path. Carrier irrevocably authorizes Trucker Path at Carrier’s expense, to exercise any of the following powers until all of the Obligations have been paid in full:
Non-exclusivity. Except for Trucker Path’s security interest, which shall be exclusive to Trucker Path, neither Party intends to give the other Party any exclusive rights or privileges under this Agreement. Except as otherwise stated in this Agreement, either party may contract with or otherwise provide service to any other motor carrier, broker, other intermediary or shipper.
Subject to the terms and conditions of this Agreement, for performance hereunder, Trucker Path will receive a fee (“InstaPay Fee”) of 3.5% of the Face Amount of a Purchased Account. With respect to each InstaPay Fuel Advance, Carrier agrees to pay to Trucker Path a fee (“InstaPay Fuel Advance Fee) which shall be 1.5% of the Anticipated Face Amount. In addition, if Trucker Path receives any payment where such payment is not for a Purchased Account, Trucker Path shall also be entitled hold the payment in reserve against the Obligations, and/or to collect the InstaPay Fee for forwarding said payment to the correct receiving party. Trucker Path has the right to change the InstaPay Fee and InstaPay Fuel Advance Fee at any time, in its sole discretion.
CONFIDENTIAL INFORMATION For purposes of this Agreement, “Confidential Information” means and will include: (i) any information, materials or knowledge regarding Trucker Path and its business, financial condition, products, programming techniques, brokers, customers, suppliers, technology or research and development that is disclosed to Carrier or to which Carrier has access in connection with Trucker Path’s performing any service to Carrier; (ii) the terms and conditions of this Agreement. Confidential Information will not include any information that: (a) is or becomes part of the public domain through no fault of Carrier; or (b) Carrier rightfully receives from a third party who has the right to disclose it and who provides it without restriction as to use or disclosure. Carrier agrees to hold all Confidential Information in strict confidence, not to use it in any way contrary to the purposes of this Agreement, whether commercially or otherwise. Carrier acknowledges and agrees any Confidential Information provided to Carrier is provided as-is without warranty of any kind.
No Pre-existing Obligations. Carrier represents and warrants that Carrier has no pre-existing obligations or commitments (and will not assume or otherwise undertake any obligations or commitments) that would be in conflict or inconsistent with or that would hinder Carrier’s performance of its obligations under this Agreement.
License and Registration. Carrier represents and warrants that it is duly registered with FMCSA as a for-hire motor carrier of property in interstate and foreign commerce pursuant to 49 U.S.C. § 13902.
Performance Standard. Carrier represents and warrants that Carrier will act in a thorough and professional manner, consistent with high professional and industry standards by individuals with the requisite training, background, experience, technical knowledge and skills to perform Carrier services.
The Purchased Accounts are and will remain:
INDEMNIFICATION Carrier will defend, indemnify and hold Trucker Path harmless from and against all claims, damages, liabilities, losses, expenses and costs (including reasonable fees and expenses of attorneys and other professionals) arising out of or resulting from: (i) any action by a third party against Trucker Path that is based on a claim that any actions performed under this Agreement or any agreements between the Carrier and a third party, or the results of or Trucker Path’s use thereof such agreements, infringe, misappropriate or violate such third party’s rights; and (ii) any action by a third party against Trucker Path that is based on any act or omission of the Carrier that results in: (1) personal injury (or death) or tangible or intangible property damage (including loss of use); or (2) the violation of any statute, ordinance, or regulation; (iii) any action by a third party such as Freight Broker(s) that violates the Carrier’s agreement with that party, but does not violate this Agreement, such as failure by such third party to abide by terms in the rate/shipment contract between Carrier and that third party; (iv) any legal or financial responsibility related to any transaction between the Freight Broker and the Carrier.
LIMITATION OF LIABILITY. IN NO EVENT WILL TRUCKER PATH BE LIABLE FOR ANY SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND IN CONNECTION WITH THIS AGREEMENT, EVEN IF TRUCKER PATH HAS BEEN INFORMED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.
TERM AND TERMINATION
Term. This Agreement will commence upon acceptance of Carrier by Trucker Path and, will remain in full force and effect until terminated in accordance with the terms of this Agreement.
Either Party may terminate this Agreement at any time, for any reason or no reason, upon at least ten (10) days written notice to the other party (a “Notice of Termination”),whereupon this Agreement shall terminate on the date of termination specified in such notice.
A Notice of Termination from Carrier shall not be effective unless all Obligations have been paid to Trucker Path on or before the termination date set forth therein.
Any attempted termination of this Agreement other than as set forth herein shall be ineffective, and this Agreement shall continue in full force and effect as if such attempted termination was not made.
Survival. Terms that by their nature are ongoing shall survive expiration or termination of this Agreement.
No Election of Remedies. Except as expressly set forth in this Agreement, the exercise by Trucker Path of any of its remedies under this Agreement will be without prejudice to its other remedies under this Agreement or available at law or in equity.
Assignment. Carrier may not assign or transfer any of Carrier’s rights or delegate any of Carrier’s obligations under this Agreement, in whole or in part, without Trucker Path’s express prior written consent. Any attempted assignment, transfer or delegation, without such consent, will be void. Trucker Path may assign its rights and delegate its duties hereunder. Upon such assignment or delegation, Carrier shall be deemed to have attorned to such assignee and shall owe the same obligations to such assignee and shall accept performance hereunder by such assignee as if such assignee were Trucker Path.
Subject to the foregoing, this Agreement will be binding upon and will inure to the benefit of the parties permitted successors and assigns.
Equitable Remedies. Because InstaPay services are personal and unique, Trucker Path will have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other equitable relief, without having to post a bond or other consideration, in addition to all other remedies that Trucker Path may have for a breach of this Agreement.
Attorneys’ Fees. If any action is necessary to enforce the terms of this Agreement, the substantially prevailing party will be entitled to reasonable attorneys’ fees, costs and expenses in addition to any other relief to which such prevailing party may be entitled.
Severability. If any provision of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, the remaining provisions of the Agreement will remain in full force and effect, and the provision affected will be construed so as to be enforceable to the maximum extent permissible by law.
Notices. All notices required or permitted under this Agreement will be in writing and delivered by confirmed facsimile transmission, by courier or overnight delivery service, or by certified mail, and in each instance will be deemed given upon receipt. All notices to Trucker Path will be sent to:
Trucker Path Inc.
Attn: Legal Department
205 W. Ninth St.
Austin TX 78701
All notices to Carrier will be sent to the address provided by Carrier. Provided however, that notices which by their nature relate to the day-to-day activities of the Service may be delivered in electronic form.
Modification of this Agreement. We reserve the right, at our discretion, to modify this Agreement on a going-forward basis at any time, with or without prior notice, and such changes will be effective in accordance with the following. The modifications to this Agreement will be effective upon the earlier of (i) your first use of the Service with actual notice of such change, (ii) your consent to such changes, or (ii) 30 days from posting of such change. Your use of the Service following the date that any such change becomes effective constitutes your agreement to be bound by the modified Agreement. If you do not agree to the modified Agreement, your sole and exclusive remedy is to terminate this Agreement and you may no longer use the Services. Disputes arising under this Agreement will be resolved in accordance with the version of the Agreement that was in effect at the time the dispute arose.
Waiver. The waiver of any breach of any provision of this Agreement will not constitute a waiver of any subsequent breach of the same nature and does not constitute a waiver of other provisions hereof. A waiver is only effective if it is in writing and signed by the waiving party.
IN RECOGNITION OF THE HIGHER COSTS AND DELAY WHICH MAY RESULT FROM A JURY TRIAL, THE PARTIES HERETO WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING HEREUNDER, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY FURTHER WAIVES ANY RIGHT TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.
EACH PARTY WAIVES THE RIGHT TO LITIGATE IN COURT ANY DISPUTE AS A CLASS ACTION, EITHER AS A MEMBER OF A CLASS OR AS A REPRESENTATIVE, OR TO ACT AS A PRIVATE ATTORNEY GENERAL.
Governing Law. The laws of the State of Texas, excluding its conflicts of law rules, govern this Agreement and your use of the Service. To the extent that any action relating to any dispute hereunder is permitted to be brought in a court of law, such action shall be subject to the exclusive jurisdiction of the state and federal courts located in Travis County, Texas, and you hereby irrevocably submit to personal jurisdiction in such courts.