Trucking Glossary

A document confirming the rate and arrangements for a specific load, often called a rate con. It commonly lists pickup, delivery, timing, and freight charges; accessorial and payment terms may also appear in a separate agreement.

A statement listing earnings, deductions, and the net amount payable for a period. In a leased owner-operator example, it shows revenue less contractual deductions. An amount shown as payable is not proof of bank payment or profit after all business expenses.

Payment terms. Net 30 ordinarily means full payment within 30 days of the invoice date; Net 60 means 60 days. A transport agreement may instead start the clock when complete documents are received. Check the agreed starting date rather than simply counting from delivery.

An early-payment option offered by a broker or other payer, usually for a fee or discount from the freight bill. Timing, cost, and required documents vary; “Quick Pay” alone does not state those terms.

Transferring freight receivables to a factoring company, which pays an agreed amount in advance and collects from the debtor. It can accelerate cash flow at a cost; advance amount, timing, and any reserve depend on the contract.

A bill listing what is being charged, the amount, and payment terms. In U.S. freight work an invoice is commonly used to request payment; it is not a bill of lading or, by itself, proof that payment was received.

On a quote or bill, linehaul commonly means the base transportation charge, with fuel and accessorials potentially listed separately. In operations it can also mean transport between cities or terminals; context matters.

Charges beyond the base line-haul transportation price for extra services or circumstances, such as detention, layover, loading labor, tarping, or liftgate use. Check which items are separately billable and their agreed terms.

A charge reflecting changes in fuel costs, often called FSC. Some agreements use EIA diesel-price data, but EIA does not set a universal surcharge formula. Check whether a quoted rate already includes fuel before adding it again.

In a carrier lease, money held under agreed terms for specified purposes, sometimes accumulated through settlement deductions. Check the required amount, permitted uses, accounting, and return conditions; it is not an unrestricted carrier charge.

Rate per Mile: freight revenue divided by the mileage used. Check whether that means loaded miles or loaded plus empty miles. “All-in” commonly concerns included charges, such as fuel, and does not automatically specify that deadhead miles are included.

Cost per Mile: operating costs for a period divided by total miles for the same period. Include relevant costs beyond fuel, such as maintenance, tires, insurance, and vehicle costs. In driver-pay discussions, CPM may instead mean cents per mile; check the context.

A leg driven without freight, such as traveling from delivery to the next pickup. It may involve an empty trailer or a tractor alone; compensation for empty miles depends on the agreement.

A per-load price negotiated in the spot market (load boards), moving with short-term supply/demand.

A rate agreed in advance for a lane or period. The contract sets pricing, duration, and adjustments; fuel may be separate. A contract rate does not by itself guarantee volume or ensure it is above or below the current spot rate.

A payer's explanation of invoices, adjustments and amounts included in a payment; it is not proof of bank receipt.

A reversal or recovery of a previously paid or credited amount, with different grounds in factoring or freight disputes.

Factoring in which unpaid-invoice risk can return to the carrier under the agreed conditions.

Factoring where the factor assumes specified nonpayment risks. Contract scope and exclusions matter; not every dispute is covered.

A notice telling a payer that receivables have been assigned and payment should follow the confirmed arrangement, distinct from an invoice.