I am wondering how the whole system of regional pay works.

Let's say my monthly guarantee is 70 hours, assuming I don't break that number, I still get paid that amount regardless, right?

Let's say I do break guarantee, how is the pay determined?
What is duty rig?
Cancellation pay?
Deadhead pay?
Block or better?

I'm guessing those four items only apply if you break guarantee?

Thanks!!!