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Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
Before this service, truck drivers seeking loads left handwritten notes on a bulletin board at the Jubitz Truck Stop for those brokers and shippers. Jubitz began posting available loads on a monitor at the truck stop, charging drivers a fee for the phone number of the company wanting to move freight. [1] [3]
Freight brokers said in interviews this week that sustained higher volumes are now making an impact on their businesses as revenue per load and margin per load increase. While spot rates have not ...
Total Quality Logistics (TQL) is a North American freight brokerage and third-party logistics firm. [4] It was founded in 1997 by Ken Oaks in Cincinnati, and is headquartered in nearby Union Township, Clermont County, Ohio, United States.
[29] [30] Traditional freight brokers acted as intermediaries to manage the coordination of freight, helping independent drivers or companies match loads with available empty trucks. Increasingly, computerized brokers are threatening the future of traditional human brokers by offering increased efficiency.
A freight exchange or load board [1] is an online service for haulage companies, logistics providers, freight forwarders, transport companies and (in some cases) private customers. It allows haulage companies to search a database of available freight that needs to be delivered and advertise their available vehicle capacity.
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