Spot Market
On the spot market, services or goods are sold to the highest bidder. The term comes from “on the spot”, which describes the short-term handling of business (from delivery to payment) within two days. Another term for it is cash market. On spot markets, the trading objects are commodities, agricultural products, currencies, bonds, etc. The opposite of the spot market is the futures market, where the transaction needs to fulfilled by both contracting parties at least three trading days after the conclusion of the transaction.
On spot markets in the area of transport and logistics, referred to as a digital freight exchange or vehicle exchange, freight and trucks that have become available are offered on a daily basis. The company posts the goods to be transported, and transport service providers can submit quotes. The customer selects the most fitting quote and places an order.
The Web-based company portal CarLo exCHANGE by Soloplan also allows forwarders to resell loads to other forwarders.
See also:
Tender A tender is a written and usually public request to place transport and logistics orders. Thanks to the outsourcing of [...] Subcontractor In logistics, a subcontractor is a service provider who carries out a transport. This independent carrier, for example [...] Freight Exchange In contrast to the direct awarding of transport orders to forwarders already known to the carrier, a freight exchange serves to <strong [...]