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Why Does My Shipment Need to Be Re-quoted


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Why Re-Quotes and Validity Dates Matter in Freight Shipping

Why might a re-quote be necessary for a shipment?

A re-quote may be necessary if the validity date of the original quote has expired before your shipment has arrived at the port, to ensure accurate pricing. The re-quote may differ from the original quote as it may be higher or lower.

Why do freight quotes have a validity date?

All freight quotes have a validity date associated with them, which can be found in the Beeontrade app. These quotes and their associated rates expire once the validity date passes. This is because freight rates provided by carriers are subject to frequent changes and are only guaranteed for a limited period. The market and seasonal changes, such as GRI and PSS, cause the volatility of shipping rates.

  • Ocean FCL rates are generally valid for up to two weeks at a time, expiring on the 15th and 30th of each month.
  • LCL rates may last a bit longer, usually expiring at the end of each month.
  • Air rates are even more prone to change and usually expire after a week, or sometimes less.
  • Airlines can technically change rates at their discretion until the flight's actual departure, despite their validity date, although rates usually hold until the given date.

What happens if a booked quote expires?

If a booked quote expires, the rates will need to be re-quoted for the shipment. For ocean shipments, rates are locked in with the carrier once the container has been dropped off at the origin port's container yard or warehouse for LCL. If the shipment arrives after the quote expiration date, the shipment will need to be re-quoted with the newly updated rate for FMC compliance. For air shipments, if the rates change before the flight departs, the shipment will need to be re-quoted. However, sometimes the rate may not change after the quote expires, and in these cases, the shipment will still be re-quoted with the same rate but with a new expiration date.

Should I still book a shipment in advance if I know the quote will expire?

Yes, it is recommended to book in advance even if the quote will expire. If you know that you will have a shipment ready to ship after the current rates are set to expire, it's always better to book it in advance. The more notice you give, the more time we have to secure the earliest possible booking on a flight or vessel. Booking space on a vessel or flight can fill up quickly, especially in peak season. Once the quote expires, we will re-quote the shipment and inform you of the new rates. Giving more notice and time will help us to better coordinate your shipments.

What is the importance of giving more notice for shipments?

How does early booking help in coordinating shipments, especially in peak season? How does the re-quoting process work for expired quotes?

Why is it essential to keep track of validity dates for freight quotes?

How can the Beeontrade app help in this regard?

What factors can influence changes in freight rates, such as GRI and PSS?

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