Rail Carhire Settlements

Rail equipment leasing companies use this transaction set to communicate car hire settlement information to their customers or billing partners. Typically sent in response to a lease agreement or periodic billing inquiry, the 414 provides detailed accounting of rental transactions and associated charges. The CTC (Car Hire Transaction Control) segment organizes settlement data by transaction, while the CIC (Car Information Control) segment identifies specific rail cars or equipment being settled. Within each car record, the CHR (Car Hire Rates) segment details the applicable rental rates, and the CV (Cycle/Summary Value) segment presents calculated totals for billing reconciliation.

Consider a scenario where Regional Rail Leasing sends a settlement statement to Mid-State Transportation. For each railcar under lease, Regional Rail populates a CIC segment with the car identifier, then includes CHR segments showing daily rental rates, demurrage charges, and mileage-based fees. The CV segment totals these charges by billing cycle. If the lease includes multiple rate periods or promotional adjustments, the optional LX loop allows Regional Rail to present alternative rate scenarios with corresponding PRI references, enabling Mid-State Transportation to verify charges against their contract terms before processing payment.