Trac Intermodal is launching Trac GeoFleet, a new smart chassis program that lets customers store a private fleet at their own location and pay only when the equipment leaves a geofenced area.

The company says in a news release that this system enables guaranteed chassis availability for its customers, usage-based billing through geofencing capabilities, and GPS tracking for real-time location data to help fleets optimize usage.

Carriers can choose the size and type of chassis, keep them on their property under a flexible term lease, and receive guaranteed availability without paying for idle units, Trac said in the release, adding that the billing begins only when the chassis departs the customer’s geofenced site.

“TRAC continues to redefine our category by developing smart, on-demand fleet solutions that best fit the evolving needs of our customers,” said Daniel Walsh, President and CEO of Trac Intermodal. “Our customers can now operate with guaranteed access to Trac’s trusted equipment and advanced visibility tools, while paying only for what they use.”