Bee On Trade

NRA (Negotiated Rate Arrangement)


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What is a Negotiated Rate Agreement (NRA)?

An NRA is a legal instrument used by Beeontrade to satisfy FMC specifications and protect client confidentiality. It is mandated by the Federal Maritime Commission (FMC) for rate documentation and acceptance.

Why is an NRA necessary?

Without an NRA, client rates must be submitted to a public tariff database, potentially exposing sensitive business data to rivals. NRAs ensure the privacy of this information.

What does an NRA record?

An NRA records key shipment details, including dates (Offer Date, Effective Date, Expiration Date), parties involved (Beeontrade and customer data), product details, shipment locations (POL, POD, Origin, Destination), and rate specifics (Cargo volume, rate basis, rate amount, service type).

How is an NRA issued by Beeontrade?

When scheduling a shipment via the app, the NRA is automatically generated through the "Accept the Negotiated Rate Agreement for This Shipment" checkbox. You can digitally sign and download the NRA in PDF format. It is also emailed to you when booking a shipment and accessible in the Beeontrade app.

What is an NRA authorization letter?

For frequent clients, Beeontrade offers an NRA authorization letter, streamlining the process. This letter allows Beeontrade to expedite shipments on your behalf when the NRA hasn't been approved.

Why might you receive multiple NRAs for one shipment?

The FMC requires updates to the initial NRA if there are changes to the shipment. This can result in multiple NRAs, including situations where the shipment is prepared despite the NRA expiration, a different shipping port is chosen, or rates change between quotation and shipment.

What happens when shippers book cargo after receiving NRA terms?

Shippers accept the rates and terms of the NRA or NRA amendment when booking cargo.

A Negotiated Rate Agreement (NRA) is a legal instrument that enables Beeontrade to satisfy FMC specifications and safeguard our client's confidential business data. To safeguard the shipping public, the Federal Maritime Commission (FMC) mandates that all rates be documented and accepted. Beeonttrade uses the private Negotiated Rate Arrangement to fulfill this obligation and safeguard our clients' confidential business information (NRA). Without an NRA, the FMC mandates that we submit our clients' rates to the public tariff database, where rivals could learn more about your company. We can maintain the privacy of this information by using NRAs as opposed to the open tariff database. The NRA records the fundamentals of your shipment: Dates: Offer Date under the NRA, Effective Date, and Expiration Date Who: Beeontrade and customer data What: Your products' nature Where: POL, POD, Origin, Destination Rate: Cargo volume, rate basis, rate amount, and service type Before accepting your shipment at the origin, Beeontrade must have the NRA in place. Beeontrade is unable to transport your shipment without an acceptable NRA on file. How are NRAs issued by Beeontrade? When you schedule a shipment via the app, the NRA is automatically produced thanks to the Accept the Negotiated Rate Agreement for This Shipment checkbox. By selecting that checkbox and selecting Confirm Your Booking, you will accept and digitally sign the NRA for that shipment. The Negotiated Rate Agreement (NRA) for that shipment can be downloaded in PDF format by clicking the associated text; it is also routinely emailed to you each time you book a shipment. There is no need to print or store the file because the NRA is always accessible within the Beeontrade app as well. It is located in the shipment's Documents section. An NRA authorization letter is what? If you frequently book with us, you might grow weary of having to accept every NRA. The NRA permission letter is the solution that Beeontrade offers to this issue. Your Beeontrade staff will be able to move rapidly to expedite shipments on your behalf once you sign this letter, freeing you from the tedious effort. When a shipment is ready at origin but the NRA has not been approved, the ability to expedite shipments on your behalf becomes very crucial. Due to time zone variations, dealing with the red tape can easily consume 24 hours. However, if you have an NRA authorization letter in place, we can rapidly approve the NRA on your behalf and keep your goods moving. Please take note that we will only make a shipping reservation on your behalf if you authorize us to do so via email or in-app chat. Why do I get several NRAs for one shipment? We are obligated by the FMC to update the initial NRA and issue another NRA for your approval if anything changes with your shipment between the time of the initial NRA and the time that your cargo is ready. This law was implemented by the FMC to safeguard shipping customers from dishonest service providers, but it has the unfortunate side effect of increasing paperwork. The following situations, all of which call for us to cancel the initial NRA and issue a new one, are frequent instances where you see several NRAs: Despite the NRA expiration date, your package is prepared. When Beeontrade accepts your freight, the NRA must be current. Your vendor wishes to ship from a port other than the one they originally specified. When a vendor's factory is situated elsewhere than its corporate headquarters, this frequently occurs. Rates vary between the time of quotation and the actual movement of the shipment. We constantly work to secure the best freight costs for our clients in the erratic market. Your Beeontrade staff will be able to promptly make these adjustments and re-book your shipment if you have signed an NRA authorization letter, keeping your goods on schedule. In these circumstances, you will always get the NRA, and it will be saved in the Beeontrade app as well. The rates and the terms of this NRA or NRA amendment are accepted by the shippers when they book the cargo after receiving the terms of the respective NRA or NRA amendment.

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