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A freight rate (historically and in ship chartering simply freight [1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck , ship , train , aircraft ), the weight of the cargo, and the distance to the delivery destination.
Most operators impose a limit on the amount of money that can be collected per delivery or per day using COD services. Limits may be higher for non-cash payments. Canada Post, for instance, applies a limit of C$1,000 for cash, but C$5,000 for payment by check or money order. [4]
Given freight is intangible, there is no physical delivery. Rather, the contracts settle in cash against the arithmetic average price of spot freight published by the Baltic Exchange. The Baltic Exchange, on a daily basis, publishes a number of freight assessments for various shipping routes reflecting the prevailing level of shipping rates.
In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. It falls under the umbrella category of expenses and is treated like other expense accounts in relation to the accounting equation, however, under generally accepted accounting rules, if the freight is Freight expense has a normal debit balance.
By the early 1980s, the government attempted to resolve the problems between the competing interests by altering the agreement. The Western Grain Transportation Act of 1983 allowed shipping rates to increase, but never more than 10% of the world price for grain. In addition, further cash payments were made by the government to the CPR.
Exchange rate: The basic conversion rate between currencies that changes daily based on global markets. Service fees : The flat or percentage-based charges for handling the exchange.
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