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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.
Uniform delivered pricing is the opposite of the FOB origin pricing, as the same price is quoted to all customers. The transportation costs are averaged across all buyers, and the nearby customers are in effect subsidizing the faraway ones (paying more for the delivery than it costs the seller, the difference is called the phantom freight).
Dimensional weight is representative of the weight of the package at the minimum density accepted by the freight carrier. [3] Shipping factors are not only different for imperial and metric measurements, but also for shipment mode and in some cases between different customers. Shipping factors will be available from the freight carrier.
It is applied as a percentage on top of the base exchange rate, which is calculated as the average exchange rate for the previous three months. Due to this added charge, shippers tend to enter into "all inclusive" contracts at one price that accounts for all applicable charges, to limit the effect of the CAF. [2]
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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.
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