Blog

A division of Uber Technologies, Uber Freight, recently rolled in something very surprising: It’s a free rate-locking device! It can be for good, as small to midsize operations bring in more devotion from digital brokerages.

Michael Bailey, the product manager who leads Uber Freight, had this to say: “Uber Freight has always been focused on bringing digital freight technology to carriers and shippers of all sizes.”

Yet, smaller shippers aren’t seen by all of the technology. This can be seen as a fact as they usually lack sufficient staff to manage day-to-day logistics.

The tool is going to be widely available in their shipper platform. Yet, it is specifically so in order to save time for the smaller size.

Great, Uber Freight!

When a shipper moves loads on a lane, they can either secure coverage on the spot market or spend ages, negotiating alongside traditional brokers and carriers to get a short-term contract. 

The rate lock, therefore, offers instant pricing on recurrent lanes. Because of this, shippers are able to avoid manual work in the contract process while surely securing a rate on lanes used most frequently.

Certain committments are well-made to show total flexibility. This ranges from weekly commitments to monthly commitments. Volume commitments ranges from single shippings to sixty a month.

In this market, volatility has never surged higher, and in the wake of the pandemic no less. It’s absolute consistent operation while reducing uncertainties. In addition, price predictability has shown shippers the way to ensure constant operations.

As Michael Bailey had explained before, securing short-term contract rates and their long-term counterparts tends to be a most excrutiating and long, time-consuming process. Often requiring a pricing team. This therefore makes it challenging for smaller-sized shipping groups with less resources to lock competing rates. Now, isn’t that something? Good for you, Uber Freight!