Glossary: Logistics terms explained

The glossary for freight procurement and logistics. We explain the terms you come across in tendering, awarding and transport, briefly and clearly. Currently 3 terms from A to Z.

Popular: Freight Tender Spot Tendering Freight RFQ (Request for Quotation)

F

Freight RFQ (Request for Quotation)Structured request for quotation in which a shipper asks several forwarders for quotes for its shipments at the same time and then awards the job in a targeted way.
Freight TenderAnnual tender in which a shipper bundles its plannable transport volume and agrees fixed prices for many lanes at once.

S

Spot TenderingShort-term request for quotation for exactly one shipment, in which forwarders bid at the current market rate.

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