The Owner Operator Lease on Companies in King is an Independent Contractor Agreement between a truck driver (Contractor) and a common carrier company (Carrier). This form outlines the responsibilities and obligations of both parties, ensuring that the Contractor provides transportation services using their own equipment while adhering to the Carrier's needs. Key features include mandatory insurance requirements for both the Contractor and Carrier, detailed documentation for invoicing, and liability clauses related to cargo transport. Filling out this form requires input of specific company information, insurance policy details, and signed agreements on terms of payment. The form is beneficial for various legal professionals, including attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a structured framework for managing independent contractor relationships in the trucking industry. It clarifies legal obligations, helps protect against liability, and ensures compliance with federal regulations, making it an essential tool for facilitating transparent agreements and managing risks associated with freight transportation.