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For new carriers or even for seasoned road warriors, it is important to understand the trucking "lingo" Here are a few of the most frequently used words in our industry:
Driver/Owner of the trucking company. Carrier is a person or company that transports goods or people for any person or company and that is responsible for any possible loss of the goods during transport. Add a description about this item.
Owner of the load being moved.
The liaison between the shipper and the carrier. Will become the party who pays the carrier for the load hauled.
The party that organizes the carrier's trip according to the pickup and drop off locations of the loads booked and negotiates with brokers in the name of the carrier
Provides funding to the carriers and makes possible for carriers to keep booking loads without having to stop their trucks until they are paid.
The percentage charged by the factoring company
Proof of Delivery. This is usually the Bill of Lading with a received stamp evidencing the load has been delivered
Rate Confirmation. This is the agreement between a carrier and a broker to haul a load evidencing the pickup/drop off locations, dates and most importantly the rate paid for the transport of that specific load.
A portion of the contracted rate advanced before the load has been delivered to make sure the carrier has enough cash to make delivery possible
Add a footnote if this applies to your business
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