Freight Tech Glossary

This glossary defines the most common terms used across Velocity modules:

• Rate Management (rates, surcharges, accessorials, versioning, pricing rules, currency)
• Quote Management (templates, expiry, revisions, quote tracking)
• Portal + Operations Tower (shipment visibility, milestones, workload views)
• Integrations (CRM/TMS) (objects, sync direction, mapping, IDs)

A

Accessorial

Definition: An additional service charge that applies beyond the base transportation price (e.g., pickup, delivery, liftgate, appointment).
Also called: accessorial fee, ancillary charge
Why it matters: Accessorials often drive quote variance and margin leakage if not standardized.
Related terms: Base rate, Surcharge, Charge line, Pricing rule

API (Carrier API)

Definition: A system connection that can return live pricing, transit times, and availability from a carrier.
Also called: live rating API, carrier connectivity
Why it matters: APIs enable “live rates” at quote time, but require stable inputs, credentials, and matching logic.
Related terms: Live rate, Fixed rate, Transit time, Availability

B

Base Rate

Definition: The core transportation price before adding surcharges/accessorials or applying markups/margins.
Also called: linehaul, freight rate
Why it matters: Clean base rates simplify comparisons across carriers and services.
Related terms: Charge line, Surcharge, Accessorial, Rate

Booking

Definition: Confirmation of shipment space/service after a quote is accepted.
Also called: shipment booking, confirmation
Why it matters: Booking is where operational execution begins; it often triggers TMS updates and milestone tracking.
Related terms: Quote acceptance, TMS, Milestone, Operations tower

C

Carrier

Definition: The transportation provider (ocean carrier, airline, trucking carrier) that moves cargo.
Also called: line operator
Why it matters: Carrier choice affects pricing, transit time, service reliability, and accessorial structures.
Related terms: Service level, Transit time, Availability

Charge Code

Definition: A standardized label for a cost component (e.g., BAF, THC, Documentation).
Also called: fee code, surcharge code
Why it matters: Charge codes enable consistent quoting, reporting, and normalization across sources.
Related terms: Charge line, Charge normalization, Surcharge

Charge Line (Line Item)

Definition: A single priced component inside a rate or quote (base, surcharge, accessorial, fees).
Also called: line item, cost line
Why it matters: Line-item structure makes pricing explainable and auditable, improving win rate and governance.
Related terms: Cost breakdown, Pricing rule, Quote template

Charge Normalization

Definition: Mapping inconsistent carrier/vendor charges into a consistent structure so teams can compare and quote reliably.
Also called: normalization, standardization
Why it matters: Without normalization, two “similar” quotes can hide different inclusions, causing disputes and margin loss.
Related terms: Charge code, Rate comparison, Cost breakdown, Pricing rule

CRM (Customer Relationship Management)

Definition: A system of record for leads, accounts, contacts, and sales opportunities.
Also called: sales CRM, pipeline system
Why it matters: CRM integration reduces duplicate data entry and keeps sales stages aligned to quoting activity.
Related terms: Lead, Opportunity, Integration, Sync direction

Currency & Exchange Rate

Definition: Currency is the unit a rate/quote is stored in; exchange rates convert costs between currencies.
Also called: FX, currency conversion
Why it matters: FX mistakes are a common source of incorrect quotes and margin leakage.
Related terms: CAF, Pricing rule, Quote currency, Cost currency

D

Data Mapping

Definition: The configuration that aligns objects and fields between systems (e.g., Velocity quote → CRM opportunity).
Also called: field mapping, object mapping
Why it matters: Good mapping ensures the right data lands in CRM/TMS without breaking reporting or downstream workflows.
Related terms: Integration, Sync direction, IDs

Dimensional Weight (DIM Weight)

Definition: A pricing basis based on shipment volume rather than actual weight, common in air and parcel.
Also called: volumetric weight
Why it matters: DIM weight changes the chargeable weight and can materially impact air quote accuracy.
Related terms: Chargeable weight, Air freight, Quote inputs

E

Exception Management

Definition: Identifying, prioritizing, and resolving shipment issues (delays, holds, missing milestones).
Also called: exception handling, disruption management
Why it matters: Structured exception handling improves customer experience and on-time performance.
Related terms: Milestone, Operations tower, Workload view

F

Fixed Rate

Definition: A rate that does not update dynamically at quote time (e.g., uploaded contract rates, tariffs).
Also called: static rate, contract rate
Why it matters: Fixed rates are stable but can go stale; governance and versioning reduce risk.
Related terms: Live rate, Rate sheet upload, Versioning

FCL / LCL

Definition: FCL is Full Container Load (one shipper uses a container); LCL is Less-than-Container Load (shared container space).
Also called: container modes
Why it matters: Mode selection changes the surcharge profile, transit time, and operational milestones.
Related terms: Ocean freight, Service level, Surcharge

I

Integration (CRM/TMS Integration)

Definition: A connection that syncs objects such as leads, quotes, bookings, customers, documents, and milestones.
Also called: system integration, connector
Why it matters: Integrations reduce manual work, prevent data drift, and align sales-to-ops execution.
Related terms: Data mapping, Sync direction, CRM, TMS

Incoterms

Definition: International commercial terms defining buyer/seller responsibility for transport, risk, and costs.
Also called: trade terms
Why it matters: Incoterms influence quote scope (door vs port), inclusions, and who pays which charges.
Related terms: Quote scope, Accessorial, Service level

L

Lane

Definition: A defined movement from origin to destination (port/airport/city) often combined with mode and service level.
Also called: route, trade lane
Why it matters: Lane is the backbone of rate storage, pricing rules, and comparisons.
Related terms: Rate, Service level, Matching logic

Lead

Definition: A potential customer inquiry that may become an opportunity.
Also called: inbound request, prospect
Why it matters: Integrations commonly push quote activity back to CRM to improve pipeline visibility.
Related terms: CRM, Opportunity, Quote tracker

Live Rate

Definition: A dynamic rate returned from a carrier API at quote time, sometimes including transit time and availability.
Also called: real-time rate, API rate
Why it matters: Live rates improve freshness but require robust troubleshooting and fallbacks to fixed rates.
Related terms: Carrier API, Fixed rate, Availability

M

Margin

Definition: Profit expressed as a percentage of sell price (sell – cost) / sell.
Also called: gross margin %
Why it matters: Margin targets often drive pricing rules and approvals for exceptions.
Related terms: Markup, Pricing rule, Floor price

Markup

Definition: An uplift applied to cost to create a sell price (sell = cost + markup).
Also called: uplift, add-on
Why it matters: Markup strategy should be consistent by lane, customer segment, mode, and service level.
Related terms: Margin, Pricing rule, Rounding rule

Milestone

Definition: A tracked shipment event (picked up, departed, arrived, delivered, customs cleared).
Also called: tracking event, status update
Why it matters: Milestones power customer visibility and exception management in ops views.
Related terms: Shipment visibility, Operations tower, Exception management

O

Operations Tower

Definition: A centralized operational view for live shipment visibility, workload prioritization, and exception handling.
Also called: ops dashboard, control tower
Why it matters: Consolidates tracking and actions so teams can resolve issues faster and reduce customer escalations.
Related terms: Milestone, Workload view, Shipment card

Opportunity

Definition: A CRM object representing a deal in progress (often linked to quotes and bookings).
Also called: deal, pipeline opportunity
Why it matters: Accurate opportunity sync improves forecasting and sales execution.
Related terms: CRM, Lead, Quote

P

Pricing Rule

Definition: Configurable logic that transforms buy rates into sell rates using markups, margins, floors, ceilings, rounding, and customer rules.
Also called: pricing logic, rate rules
Why it matters: Pricing rules standardize quoting and protect profitability at scale.
Related terms: Markup, Margin, Floor price, Rounding rule

Portal (Digital Freight Portal)

Definition: A customer-facing interface for quote review, booking, payments, and shipment visibility (depending on configuration).
Also called: customer portal, shipper portal
Why it matters: Self-service reduces email back-and-forth and improves conversion and retention.
Related terms: Access control, Quote template, Milestone

Q

Quote

Definition: A priced commercial offer for a defined shipment scope, including validity, inclusions/exclusions, and assumptions.
Also called: freight quote, rate quote
Why it matters: Faster, more consistent quotes improve win rate and reduce rework.
Related terms: Cost breakdown, Quote template, Quote expiry

Quote Expiry

Definition: The date/time after which a quote is no longer valid.
Also called: validity window, expiration
Why it matters: Expiry controls commercial risk when market costs change.
Related terms: Validity window, Live rate, Fixed rate

Quote Revision / Version History

Definition: A record of changes to a quote over time (pricing, scope, assumptions, charges).
Also called: quote versions, audit trail
Why it matters: Version history prevents confusion and supports approvals and customer negotiations.
Related terms: Approval workflow, Quote tracker, Pricing rule

Quote Template

Definition: A standardized customer-facing format for presenting quote line items, totals, and terms.
Also called: proposal template, quotation format
Why it matters: Consistent templates reduce disputes and improve conversion with clearer breakdowns.
Related terms: Cost breakdown, Charge line, Portal

Quote Tracker

Definition: A view/workflow that tracks quote status (drafted, sent, viewed, accepted, expired).
Also called: quote pipeline, quote status
Why it matters: Enables follow-up prioritization and performance reporting.
Related terms: CRM, Opportunity, Quote expiry

R

Rate (Buy Rate vs Sell Rate)

Definition: A rate is a price for transport and services; buy rate is your cost, sell rate is customer price.
Also called: tariff, pricing
Why it matters: Separating buy vs sell supports reporting, margin controls, and auditability.
Related terms: Pricing rule, Markup, Margin, Cost breakdown

Rate Sheet Upload (Excel/CSV)

Definition: Importing structured rates in bulk from spreadsheets or CSV files.
Also called: rate import, bulk upload
Why it matters: Scales contract rate maintenance and reduces manual entry errors.
Related terms: Fixed rate, Versioning, Charge normalization

Rounding Rule

Definition: A rule that rounds prices to preferred increments (e.g., nearest 5, 10, or 25).
Also called: rounding logic
Why it matters: Produces cleaner customer-facing quotes and consistent sales behavior.
Related terms: Pricing rule, Markup, Margin

S

Service Level

Definition: The service specification (door-to-door vs port-to-port, standard vs express, carrier service tier).
Also called: service tier, service type
Why it matters: Service level changes charges, lead time, and operational milestones.
Related terms: Lane, Transit time, Accessorial

Shipment Visibility

Definition: The ability to see shipment status and milestones in near real time.
Also called: tracking visibility, status visibility
Why it matters: Reduces “where is my shipment” inquiries and supports exception management.
Related terms: Milestone, Operations tower, Portal

Surcharge

Definition: A supplemental charge applied due to market or operational factors (fuel, currency, peak season, congestion).
Also called: adjustment factor, surcharge fee
Why it matters: Surcharges can change frequently; standardization prevents misquotes.
Related terms: Accessorial, Charge code, Charge normalization

T

TMS (Transportation Management System)

Definition: A system used for operational execution: bookings, shipments, documents, tracking, milestones, and billing workflows.
Also called: ops system, execution platform
Why it matters: TMS integration keeps operations aligned with what was sold in the quote.
Related terms: Integration, Booking, Milestone, Documents

Transit Time

Definition: Estimated duration from origin to destination for a given mode and service.
Also called: lead time, ETA window
Why it matters: Transit time impacts customer expectations and quote competitiveness.
Related terms: Live rate, Service level, Milestone

V

Validity Window

Definition: The time period a rate or quote remains valid under stated assumptions.
Also called: validity period, effective dates
Why it matters: Controls risk when market costs and capacity shift.
Related terms: Quote expiry, Versioning, Contract rate

Versioning (Rates)

Definition: Managing rate updates as controlled versions to preserve history and reduce disruption.
Also called: rate history, rate audit trail
Why it matters: Supports governance, rollback, and clear “what changed” communication to teams.
Related terms: Fixed rate, Rate sheet upload, Approval workflow

W

Workload View

Definition: An operational view that groups shipments by status, owner, priority, or exceptions for efficient execution.
Also called: queue view, ops queue
Why it matters: Helps teams focus on what needs action now, improving throughput and SLA performance.
Related terms: Operations tower, Exception management, Shipment card

Related Guides

Continue learning with these Velocity guides, each one expands on the glossary terms above and helps you apply them in real workflows:

• Rate Management — Centralize rates, upload rate sheets, manage surcharges/accessorials, and keep pricing governance consistent.
• Quote Management — Build, send, and manage quotes with consistent cost breakdowns and customer-ready outputs.
• Integrations Overview (CRM + TMS) — See what Velocity can sync across CRM and TMS, including leads, quotes, bookings, documents, and milestones.
• Live Rates via Carrier APIs — Understand what live rates provide, how to connect carrier APIs, and how to troubleshoot “no results.”
• Pricing Rules: Markups & Margins — Apply markup and margin logic to protect profitability across lanes, services, and customers.
• Charge Normalization — Normalize carrier charge lines into standardized codes so you can compare rates consistently.
• Currencies & Exchange Rates — Prevent FX errors by managing rate currencies, conversions, and exchange-rate logic in pricing.
• Quote Templates — Standardize customer-facing quote formats to reduce disputes and speed approvals.
• Quote Expiry — Set validity windows and renew quotes safely when market conditions change.
• Quote Version History — Track quote revisions with an audit trail so teams know exactly what changed and why.
• Portal Setup: Branding & Access Control — Configure portal branding, permissions, and customer access to quotes, bookings, and visibility.
• Ops Tower: Shipment Cards & Workload Views — Organize execution with shipment cards, workload views, and exception-focused ops visibility.