How to Read a Rate Confirmation (Rate Con) Line by Line

A rate confirmation — universally called a "rate con" in the industry — is the binding contract between you (the carrier) and the freight broker for a specific load. Once you sign it and the load ships, the rate con governs payment terms, accessorial charges, and dispute resolution. Misreading it before you roll is one of the most common and preventable ways owner-operators lose money.

This is every field you'll see on a rate con, explained in plain language.

What a Rate Con Is (and What It Isn't)

A rate con is issued by the freight broker after you verbally agree to move a load. It documents the terms you agreed to — or the terms the broker hopes you'll agree to without reading carefully. The rate con is not the bill of lading (BOL), which travels with the freight and documents what was picked up. It's not the proof of delivery (POD). It's the commercial agreement between carrier and broker for this specific shipment.

You should never load freight before receiving and reviewing the rate con. If a broker is pressuring you to load before sending the rate con, that is a red flag worth taking seriously.

Broker Information and MC Number

At the top of every rate con, the broker identifies themselves with their legal company name, address, and USDOT/MC number. Before you haul for a new broker, verify their MC number is active and in good standing at the FMCSA SAFER database (safer.fmcsa.dot.gov). Also check their payment history and credit score on DAT or Truckstop. A broker with a C or D credit rating on DAT has a history of slow payment or disputes. Know before you load.

The rate con will also list your company name and MC/DOT number as the contracted carrier. Confirm your information is correct. Loading under a rate con that lists the wrong carrier can create insurance and liability complications.

Load Number / Reference Number

The broker's internal load number. You'll use this on every communication with the broker — check calls, detention requests, invoice submissions, and dispute resolution. Write it down or save the rate con to your phone before loading. "I have a load from Chicago to Atlanta that picked up Tuesday" tells the broker nothing. The load number tells them everything.

Pickup and Delivery Information

This section lists:

• Origin: Shipper name, address, and pickup number (or PO/reference to use at the gate)
• Pickup date and time window: Early and late times. If the rate con says "must arrive by 08:00" and you arrive at 09:30, the shipper may refuse to load you and you may not get paid a dry run fee. Confirm the appointment time with the shipper directly before you deadhead 300 miles.
• Destination: Consignee name, delivery address, and delivery appointment
• Delivery date and time window: Same caution applies. Note whether delivery windows are hard or flexible.

Cross-reference the pickup and delivery addresses against your GPS before you commit. Rate cons sometimes contain address typos, and not every industrial park address is easy to find. If the rate con says a location requires appointment-only and the broker hasn't confirmed one, call before you get there.

Commodity and Equipment

The rate con describes what you're hauling (commodity), the trailer type required (53' dry van, 48' flatbed, reefer), and any special equipment requirements (e-tracks, straps, tarps, temperature settings). Read this carefully. If you show up with a dry van and the freight requires a reefer, you don't get paid and you've wasted a day. If the commodity listed is hazardous materials and you're not HazMat certified, you cannot legally haul it regardless of what you agreed to verbally.

Commodity weight and dimensions are listed here too. Confirm the freight is legal for your licensed weight on the routes you'll travel. Overweight violations are your liability, not the broker's, even if they provided incorrect weight information.

Line Haul Rate

This is the base payment for moving the load from A to B. It may be expressed as:

• A flat dollar amount for the load (e.g., $2,400 flat)
• A per-mile rate times the total miles (e.g., 1,050 miles x $2.20 = $2,310)

If the rate is per-mile, confirm that the mileage figure used matches your own routing. Brokers sometimes use shorter PC*MILER calculations than actual driven miles, especially in urban areas. A 20-mile discrepancy at $2.20/mile is $44 — across dozens of loads annually it adds up.

Fuel Surcharge

Many rate cons list fuel surcharge (FSC) as a separate line item, usually expressed as a percentage of the line haul or a cents-per-mile figure tied to the DOE weekly average diesel price. Some brokers include FSC in the flat rate (all-in rate). If a broker offers you "$2.20 all-in" and the current FSC for that lane is $0.35/mile, your effective line haul is $1.85/mile. Know the difference before you quote.

Accessorials

Accessorials are additional charges beyond the line haul rate. Common ones on a rate con:

• Detention: A per-hour fee for waiting beyond the free time at pickup or delivery. Standard is 2 free hours, then $50–$100/hour depending on negotiation. The rate con should specify the free time allowance and the per-hour rate. If detention terms are not listed, you cannot collect detention unless you get the broker to confirm it in writing before or during the delay.
• Layover: If the shipper cannot load you within the same business day. Usually $150–$350/night. Must be in the rate con or separately authorized by the broker.
• TONU (Truck Ordered, Not Used): Payment when you're dispatched to a pickup but the shipper cancels the load after you're committed or en route. Typically $150–$300. Must be specified.
• Lumper reimbursement: If the shipper uses lumpers to unload and you're expected to pay, the rate con should confirm reimbursement. Ask for the lumper receipt number and enter it on the rate con notes before you leave the dock.

Payment Terms

This is one of the most important sections to read. Standard payment terms are net 30 days from receipt of paperwork. Some brokers pay in 21 days. Some pay net 45 or worse. If you use a factoring company, the factoring company buys your invoice immediately but the broker still pays them on their terms — which affects your factoring reserve and advance rate.

Quick pay options are often listed: you can receive payment in 2–5 business days for a fee deducted from your settlement (typically 1.5–3%). If cash flow is tight, quick pay is useful. If you have a factoring arrangement, quick pay is usually redundant and costly.

Red Flags on a Rate Con

• Payment terms beyond net 45 days — legitimate brokers pay within 30
• Vague commodity descriptions ("general freight" or "FAK — freight all kinds") when the shipper clearly has a specific product — this can hide liability issues
• No detention terms listed at all — ask for them to be added before you sign
• Carrier requirements that your insurance doesn't meet (some rate cons require $1M cargo when you carry $100K)
• Exclusive use / seal requirements not discussed verbally — these add liability and can prevent you from picking up freight on the return
• Auto-draft or automatic deduction clauses for unspecified reasons

Signing the Rate Con

Most rate cons today are e-signed via DocuSign, Transflo, or email confirmation. Some brokers accept a signed photo sent via text. Whatever method you use, keep a copy. Your factoring company will require the rate con to advance payment. In any dispute, the signed rate con is your evidence.

Never sign a rate con you haven't read. Never load freight on a verbal agreement alone. The 10 minutes it takes to read a rate con carefully is the cheapest insurance you have on any load.

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