A rate agreed for a lane over a period, usually a year.
Contract freight trades upside for predictability. You give up the spikes and you stop taking the troughs at full force.
Contract rates get repriced at renewal, and shippers push hardest when their own costs are under pressure. Knowing that pressure is coming before the renewal conversation is worth real money.
Related
Inteleri works out what a load actually pays you once things like this land. See how it works.