What is a Spot Quote?
TMS Glossary
What is a Spot Quote?
A spot quote is a one-time freight rate offered by a carrier based on current market conditions, shipment urgency, and capacity availability. Unlike contract rates, which are negotiated for long-term consistency, spot quotes provide shippers with flexible pricing for immediate or irregular shipments. Spot rates fluctuate due to factors such as fuel prices, seasonal demand, and carrier availability, making it crucial to compare options to secure the best rate.
Why Are Spot Quotes Important?
- One-Time Freight Rates – Based on real-time market conditions, urgency, and capacity.
- Flexibility – Ideal for immediate or irregular shipments compared to long-term contracts.
- Cost Control – Rates fluctuate with fuel, seasonal demand, and carrier availability, so comparing options is key.
- Agility – Enables shippers to adapt quickly to changing needs and avoid overpaying.
When to Use a Spot Quote
- Urgent or Last‑Minute Shipments – Source quick rates for time-sensitive moves.
- Unplanned Surges – Manage unexpected freight volumes without contract delays.
- Lane Changes or New Routes – Get pricing for lanes outside your usual network.
- Non‑Integrated Freight – Bid on freight without pre‑set rate sheets or APIs.
- Alternative Pricing – Find competitive rates when contract prices are unavailable or too high.
Key Features of FreightPOP’s Spot Quote Solution
- Instant Rate Comparisons – View multiple carrier quotes side by side.
- Real-Time Market Insights – Leverage live data on spot market trends.
- Seamless Booking – Select and book spot quotes directly within FreightPOP.
- Multi-Mode Support – Compare rates across LTL, FTL, parcel, ocean, and air.
- Integrated Workflows – Connect with TMS, ERP, and WMS for full visibility.
Learn more about Spot Quoting with FreightPOP
Fill out the form below to request a custom demo.