Quote, Freight

A freight quote is an indicative offer of the rate at which a carrier or shipowner will carry cargo: a price per ton, per cubic meter, per container (per TEU/FEU), or as a lump-sum freight for a voyage. It states the rate and the terms it assumes, such as the load and discharge ports, the Incoterm, and which party bears loading and discharge costs (for example free in and out). A quote is not a binding contract; freight is fixed when the fixture or booking is concluded, after which it appears in the charter party or bill of lading.