Updated 2026-05-19

Rate confirmation

A freight document confirming agreed shipment rate and load details.

Why it matters

A signed rate confirmation is the primary document proving that a broker and carrier agreed to a specific load, rate, and payment terms before the shipment. Factors use the rate confirmation to verify that the invoice amount matches the agreed rate, the load was assigned to the correct carrier, and no disputes about the rate were raised at booking. Discrepancies between the invoice amount and the rate confirmation, even small ones, trigger verification delays. Carriers should retain all rate confirmations and match them to invoices before submission to avoid funding holds during verification.

How it appears in contracts

In trucking factoring, the rate confirmation and bill of lading together form the standard documentation package for invoice verification. The rate confirmation should show the broker name, the carrier name or MC number, the agreed rate, load details, and pickup and delivery dates. Some factoring agreements specify that the carrier must provide the rate confirmation within a defined window after submitting the invoice, often 24 to 48 hours. If the broker later disputes the rate or load terms, the factor typically holds the invoice until the discrepancy is documented and resolved between the parties.

Related terms

• Notice of assignment
• UCC-1
• Lockbox
• Assignment of receivables