You won't sign a lease on the truck without reading the beautiful prints. So why do so many carriers treat interest rate recognition like receipts? That small PDF has the power to cause or destroy the load. In 2025, with tighter profit margins than ever, slippery brokers and higher technology to produce goods, knowing how to read your rate con is not optional, it is essential. Exquisite prints are profitable life. Or die.
This article will give you a detailed look at how to break down exchange rates like an experienced team manager. Not only where to find rates per mile, but also terms that can be found that pay delays, waiver of detention or transfer liability are available. I will show you what to look for, what to question, and how to protect yourself from the least expected surprises.
Let's get into it.
Interest rate recognition is a binding contract between you (the carrier) and the broker.
It outlines:
Load details (Pickup, Delivery, Product)
Agree to pay
Attachment (detention, midway, etc.)
terms and Conditions
Sometimes it is broker-specific rules or exemptions
The keywords here are contract. If you sign, you have agreed to every word - even something you don't read.
So let's learn exactly how to read it by row.
Most interest rate cons start with:
What to check:
Confirm that date time matches what you were told
confirm Total salary Match agreed
Looking for Special Instructions No discussion on the phone
Red flag example:
A pickup said "FCFS 08:00–16:00" on the phone, but Rate Con said "Appt 10:00 AM Sharp".
If you are late, you may be fined or refused to be detained.
Always reviewed:
What is the actual product?
What equipment are needed?
Any special notes?
Beware:
"Driver Count" or "Tailgate Uninstall" language (represents uninstall)
Temperature controlled products are booked as dry trucks
Dangerous goods or bound freight is not disclosed verbally
hint:
If you are pulling sandals, look for temporary requirements in writing. If not listed and the product is damaged, your claim may be denied.
(Photo: FreightWaves)
This is where many carriers lose money.
You assume you will get detention or mid-way salary, but the exchange rate may say something else.
What to look for:
Minimum hours required before detention starts (usually 2 hours)
Required timestamps to enter and exit the document
Specific wording, such as “the carrier must notify the detention broker before timed”
The price of the mid-capped cap is a flat rate ($150 per day)
TONU (Truck Order Not Used) Policy - Does it exist
Example of sneaky clauses:
“No detention will be paid unless prior written approval and verification is obtained through the carrier’s tracking portal.”
What if you don't use its tracking tools or applications? No detention.
Find this section at the bottom or near the Terminology page.
What are you checking:
Who is responsible for the claim?
Have you been asked to waive your rights?
Do you accept liability for goods exceeding the standard $100,000?
Does it say that “the carrier has waived the right to refuse to claim reimbursement”? That's very dangerous.
Examples of predatory language:
“The carrier agrees to repay the claims determined by the client’s discretion to the shipper or broker.”
This means you have no appeal process. You are eating and losing, no problem.
Protect yourself by sending a signed rate scam along with your own terms and conditions pages, specifying your cargo restrictions and affiliate expectations.
Another common pitfall is payment delays, because paperwork is “incorrectly submitted.”
Find these in beautiful prints:
POD submission timeline (some need to be required within 24-48 hours)
Required format (PDF, no photos)
Must be submitted via a specific TMS or portal
Delayed or incomplete instrument fines
Whether signatures and stamps are required to release funds
hint:
Send your paperwork using a consistent file naming convention example:
carriername_loadnumber_pod.pdf
Agents can’t make excuses when they are clean.
This is where you really need to slow down.
You are looking for:
Standard payment terms (net 30, net 45, etc.)
Quick salary options and their fees (usually 2-5%)
Lost date, reconditioning or late pod refund
Lumper coverage - whether it is reimbursement or asking you to pay
example:
Rate Con says:
“The carrier is responsible for any reinvestigation resulting from the missed appointment.”
This means that if you are late and you recalculate the load, you pay for it, not the broker.
Burial is somehow a vague "force majeure" clause that takes the agent off the hook but puts you in trouble.
example:
“The carrier assumes all liability if delays arise due to weather, equipment failure or traffic.”
That's what you end up with liability for $900 for missing out on the penalty because it flooded in Kentucky.
If some messages sound, dial it out, initially change it, and then send the rate back. If the broker does not accept the changes, you can choose - adventure or walk.
Some brokers include general terms and conditions for pages 2-4. Always open these pages. Don't think they are boilerplate.
Looking for:
"The carrier waives the right to litigation"
“All claims governed by the laws of (national)” (usually their own country)
Broker's compensation clause, even if the liability is pushed to you due to their mistakes
Worst example:
Exchange rate con includes this clause:
“The carrier agrees not to assume the Broker’s liability for any losses associated with the non-payment.”
translate: If the shipper does not pay the broker, they don't have to pay you.
If you run multiple loads per week, you need a system.
Here is what we recommend:
1. Use rate con audit list or standard review process
Use a quick reference table for each load.
Click on each section: Rate, Attachment, Claim, POD Terms, Payment, Legal.
2. Assign review responsibility
If you have a dispatcher or administrator, Train them Discover red flags and escalate.
3. Create your own carrier terms page
Including yours:
Cargo limit
Detention policy
Delay and tutoring terms
Payment expectations
Send it to each rate con. This creates a legal trail.
4. file
Use Google Drive or your TMS to store all rate cons and include comments in the following ways:
Who sent it
Any red line changes
Payment schedule
Brokerage Performance
If you have to file a bond or pursue a claim, this document will protect you.
Reading rate scammers like professionals don’t mean you have to be a lawyer. This means you understand that every sentence is a decision, and each decision affects your money, risk, and credibility.
If you are just signing and scanning, then you are playing the game blindly. But when you slow down, ask the right questions and tighten your review process - you start running like a carrier that needs respect.
How posts read your rate scam like a pro, first appeared on FreightWaves.