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A freight broker is an intermediary between a shipper and a freight service provider. Freight brokers can specialize in certain types of freight, such as equipment hauling on lowboys, oversize, bulk tanker, auto, or other types of freight transportation.
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods). The carriers may use a variety of shipping modes, including ships, airplanes, trucks, and railroads ...
Total Quality Logistics. Total Quality Logistics (TQL) is a North American freight brokerage and third-party logistics firm. [4] It was founded in 1997 by Ken Oaks in Cincinnati, and is headquartered in nearby Union Township, Clermont County, Ohio, United States. [5][6][7] As of 2021, TQL is the largest private company in greater Cincinnati ...
United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more ...
Brokers are employed because they have access to freight load boards, where they can post the job and find carriers that have transportation resources in the area. They can also get lower shipping prices by getting competing bids by different carriers. However, brokers and carriers are not always separate entities - a number of auto transport companies handle both brokerage and transport.
In addition, shipper-driven brokerage over the Internet enables shippers to post loads and solicit bids directly from carriers. Instead of relying upon traditional freight brokers, shippers function as their own brokers, dealing directly with freight companies.
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