Team,
As we are currently enduring unprecedented challenges in our lives, each and every one of us has had to adapt to the ever-changing circumstances. At Columbus Yellow Cab, we have made it our mission to support the health, safety, and financial well-being of all our driver partners during these difficult times.
That is why we are announcing that come Monday April 13th, 2020 at 12:01AM we will temporarily be halting Owner Operator leases and transitioning over to a less burdensome payment method of a 40/60 split on all credit card and account transactions with a $444 max payment. Due to fluctuating and unpredictable call volume during this time, rather than a set lease price, the transition to a 40/60 split will alleviate the worry of “will I or will I not be able to cover my lease this week”.
With this split, when you submit your vouchers or credit cards you will be charged 40% and the other 60% will be paid out directly to you. Once your 40/60 split payments reach $444 for the week, the processing fee will drop back to the typical five percent.
When this goes into effect on Monday, we will pause all pending lease payments at that time along with the days off program. All repair payments and bond payments will still occur on your regular scheduled check in day and will need to be honored. Bond withdrawals will be halted at this time as well and guidelines for disbursement of those funds will follow the rules outlined in your lease agreement.
We all have commitments to our families, our clients, and to each other, and we at Columbus Yellow Cab recognize the difficulty in balancing those commitments. We feel that this will allow our owner operator partners the most amount of flexibility in this time of crisis.
- CYC Team