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A freight broker is an intermediary between a shipper and a freight service provider. Freight brokers can specialize in certain types of freight, such as equipment hauling on lowboys , oversize , bulk tanker , auto , or other types of freight transportation .
A freight forwarder or forwarding agent is a person or a company ... cargo insurance and customs brokerage. Together with tracking, freight forwarding agents often ...
Another regulation that protects carriers and shippers is the freight broker bond - freight brokers must get bonded in order to operate legally. If a carrier files a claim, the bond would cover it. If a carrier files a claim, the bond would cover it.
Tanker brokers similarly negotiate maritime contracts, known as charter parties. The main terms of negotiation are freight/hire and demurrage. Oil being a fast moving trade, freight rates for crude oil tanker charters are most commonly based on the Worldscale Index; the Worldscale Association publishes flat rates annually. [3]
The network consists of several load board subscription services for small to midsize carriers, freight brokers, and shippers. [1] [7] DAT provides a real-time truckload freight rate service. This is based on $150 billion of transactions annually, from actual "broker-buy" rates (what freight brokers pay carriers) to shipper-to-carrier contract ...
RXO, a freight broker based in Charlotte, North Carolina, said acquiring Coyote will nearly double the company, to $7.1 billion in annual revenue, and make it the third-biggest freight broker in ...