The Contracts for Owner Operators formula in Kings is designed for use between independent contractor truck drivers and carrier companies. This agreement outlines essential responsibilities, including transportation of goods by the contractor using their own equipment, and stipulates that the carrier must provide necessary insurance coverage. Key features include defined payment terms for invoices, and the contractor's obligation to supply proper documentation for payments. There are provisions for liability concerning cargo and the contractor's requirement to maintain specific insurance limits. This form is beneficial for various legal professionals, such as attorneys who can assist with compliance, partners seeking to optimize operations, and paralegals or legal assistants who need to manage documentation. It serves as a comprehensive guide detailing the relationship dynamics between the owner/operator and the carrier, addressing issues such as payment, liability, and the independent contractor nature of the agreement.