Rate Refresh

Rate Refresh lets you request updated pricing from your current service providers for selected price components in existing rates.

This is useful when only part of the pricing needs to be updated, rather than requesting a full new quotation.

Common scenarios can include:

Incumbent-only refresh: The shipper requests updated rates and validity from the incumbent LSP. The process mirrors a standard tender but without competitive evaluation and without changing the carrier assignment.

Contractual adjustment mechanism: The contract permits in-term rate adjustments. It can define who may initiate changes, when and how often they can occur, and the required workflows. The shipper then requests periodic updates (e.g., monthly or quarterly).

 Short-cycle tendering: The shipper conducts tenders at short intervals and agrees to short-term rates instead of long-term agreements.

Rate Refresh is intended for incumbent providers only. It is not designed for re-awarding business or inviting new providers to quote.

When to use Rate Refresh:

Use Rate Refresh when:

• you want to collect updates from your current providers only
• only specific price components need to be updated
• your provider allocation remains unchanged
• pricing updates happen on a regular cycle, such as monthly or quarterly
• market conditions require quick adjustments to variable charges

Do not use Rate Refresh if you want to:

• run a competitive sourcing event
• invite new LSPs
• request a full rate resubmission
• re-award business

How to start a Rate Refresh:

1. Go to Rate Management (RMGT).
2. Select the rate profile for which you want to request a Rate Refresh.
3. Click the “Rate Refresh” button.

This opens a dedicated, simplified dialog just for rate refreshes:

Step‑by‑step: the Rate Refresh dialog:

Step 1 – Select lanes

Choose which lanes should be part of the refresh, 

• from a rate profile: all active lanes, or all selected lanes

Or

• from a collection or criterion: all lanes contained in that collection/criterion.

This lets you quickly target exactly the lanes you want to refresh.

 Step 2 – Select LSPs

Select LSPs to be requested - system prepares the list of incumbent LSPs with the number of assigned lanes, user can de-select of needed.

 Step 3 – Set a timeline and validity

The system pre‑fills:

• the timeline (when the LSP should respond), and
• the rate validity (from / to dates).

You can adjust these values if needed (for example, change the validity end date or response deadline).

Step 4 – Select column/columns

You decide which parts of the rate can be changed by the LSP:

• allow updates on all editable columns (same as a normal RfQ), or
• allow updates on only specific columns

What the LSP sees – prefilled quote sheet:

Providers receive a prefilled quote sheet containing the current rate information.

• the quote sheet is prefilled with the existing (base) rate data.
• the LSP sees exactly what has been agreed so far.
• only the columns you allowed for update are editable.
• all other fields are read‑only.

This reduces the risk of mistakes and speeds up the response, which is especially important for frequent refreshes.

Review responses:

After providers submit their updates, you can review the responses and compare the refreshed pricing.

This helps you evaluate:

• updated pricing by provider
• changes across lanes or regions
• increases or decreases in the selected price components

Analysing the results:

The analysis capabilities mirror those of a standard RFQ. You can also create new analyses that are used exclusively for the Rate Refresh.

Rate updates in Rate Management:

When you finish a Rate Refresh, the system creates a new rate in Rate Management.

If the new rate’s validity period overlaps with the old base rate, the system automatically cuts the old base rate, so it ends the day before the new rate starts.

This ensures: no overlapping validities, and a clean, consistent rate history.