Rate Confirmation
What is rate confirmation? A rate confirmation is the written agreement between broker and carrier specifying the freight, lane, pay, and terms for a single load.
Full definition
The rate confirmation (rate con) is the operational contract for a load. It specifies origin, destination, pickup and delivery times, commodity, equipment requirements, and the negotiated rate.
For factoring, the rate confirmation is one of the three required documents (along with the BOL and invoice) for advance funding. Factors verify the rate con against broker records before advancing.
Dispute resolution between broker and carrier on missed expectations almost always hinges on what the rate confirmation says — read it before signing, not after the dispute.