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A contract rate is a price agreed in advance between a shipper and a carrier or broker, usually for a lane or set of lanes over a fixed period. It gives both sides predictability, but it can differ from what the spot market pays on a given day.
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Contract rate
A contract rate is a price agreed in advance between a shipper and a carrier or broker, usually for a lane or set of lanes over a fixed period. It gives both sides predictability, but it can differ from what the spot market pays on a given day.
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General information, not legal advice. See the full glossary for more terms.