Spot Quote
Also known as: Spot Pricing, Spot Market Rate, One-Time Quote
Definition
A spot quote is a one-time price for a specific shipment, negotiated outside of any existing contracted rates. Spot quotes are obtained when you need immediate capacity or when a shipment falls outside your normal shipping profile.
When to Get Spot Quotes
- No contracted rate - Shipment to unusual destination
- Capacity crunch - Regular carriers have no availability
- Oversize/overweight - Doesn’t fit standard rate cards
- Unusual requirements - Special handling, timing, equipment
- New lanes - Testing carriers before contracting
Spot Quote vs. Contract Rate
| Aspect | Spot Quote | Contract Rate |
|---|---|---|
| Commitment | None | Volume commitment |
| Price stability | Varies by market | Locked for contract period |
| Availability | Subject to capacity | Guaranteed capacity |
| Process | Quote each shipment | Pre-negotiated rates |
| Best for | Occasional shipments | Regular lanes |
How to Get Spot Quotes
- Load boards - Post shipment details for carrier bids
- Freight brokers - They solicit quotes from their network
- Direct to carriers - Call or email carrier sales
- TMS platforms - Automated quote requests
- Carrier websites - Online quoting tools
Spot Market Dynamics
Spot rates fluctuate based on:
- Seasonal demand - Higher during peak (produce season, holidays)
- Capacity utilization - Tight capacity = higher rates
- Fuel prices - Surcharges adjust with diesel costs
- Regional imbalances - Rates differ by lane direction
- Economic conditions - Freight volumes affect pricing
Tips for Spot Quotes
- Get multiple quotes for comparison
- Provide accurate shipment details
- Be flexible on timing if possible
- Build relationships for better rates
- Know the current market conditions
- Have backup options ready
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