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Rates

The rates module stores rate contracts and calculates rates with a rate engine. The calculated rates can be used in different ways. In the payables module, rates can be used to audit payable invoices. In the receivables module, rates can be used to generate receivable quotes and invoices.

Configuration​

The rates modules is configured with rate contracts. Different transportation modes use different types of rate contracts, such as:

  • Accessorial schedule
  • Fuel schedule
  • FTL lane rate schedule
  • LTL pricing agreement
  • Parcel customer service agreement

Typically, a rate contract is a bilateral agreement between a Loop client and a carrier. Clients can send these to Loop as PDF, XLSX, or CSV files. The Loop team will configure them in the system. Loop has built-in rate engine templates for standard contract structures and can also build custom rate engines based on client requirements. The rate engine can also make calls out to remote APIs such as SMC3 RateWare.

For unilateral rate contracts published by carriers such as LTL public tariffs, Loop needs to know which versions to use. The required version is often specified in a bilateral agreement.

The rate engine is configured on an ongoing basis as rate contracts change and new carriers are onboarded.