Freight glossary / Pricing and rates

What is Spot rate in freight?

A spot rate is the price for moving a single load right now, set by what the market will bear rather than by a standing agreement. It moves daily with capacity, weather, holidays, and seasonal demand. Spot is where a shipper goes when contracted carriers reject a load, which is why spot rates rise fastest exactly when routing guides are failing.

Also called: spot market rate, spot pricing.

Related terms

• Contract rate
• Routing guide
• Tender rejection
• Load board