Press Release – Cargobase Launches New Feature: Lane Contracts

Cargobase, the online platform for spot-buy freight, has successfully launched a much-requested feature by Fortune 500 multinationals in the semiconductor and electronics industries.

The feature allows shippers to better manage – on a single platform – both spot-buy lanes and pre-negotiated lanes within ad hoc freight procurement.

Shippers are now able to assign Lane-Contracts – which have been pre-negotiated, perhaps through a tender, based on address, airport and freight mode – to a provider of choice. This allows shippers to view offers and/or work simultaneously with multiple providers already with lane-contract rates on rack, instead of viewing only spot-buy rates.

The feature is ideal for irregular shipments that happen often enough for providers to put a rate in place for a certain period, like “Next-Flight-Out” or “Hot-Shots” for example. “In a spot-buy environment, where it is characteristically urgent and hectic, most shippers readily accept exorbitant ‘a la carte’ spot-buy rates, not realizing they might have locked-in rates with a dedicated provider per lane, for instance. The Lane-Contracts feature takes into account shippers’ preferences and pre-assigned provider.” Wiebe Helder, CEO of Cargobase shares.

“The cost savings are obvious, as shippers can now instruct the system, much like saying “I’ll have the usual” and prioritize Lane-Contracts, further optimizing their entire ad hoc freight procurement process.”

The feature is now live.