Freight Broker and Freight Forwarder
Freight is an important part of the international logistics industry, and to manage freight both broker and forwarder are needed. Although both the freight forwarder and freight broker are different from one another. There are many differences between them as follows:
Who is a Freight Forwarder?
The answer is freight forwarder is someone who arranges storage and transportation of freight for the customers. They are solely responsible for the loss and damage caused to the shipments and also they take the physical charge of the cargo and its insurance. Negotiates the freight rates to cover the interest of their clients with the shipping line. Booking of the cargo ship is also being done by the freight forwarders as per the client’s requirement. The distribution of the cargo also called the forwarding of the cargo is done on the instruction of their clients.
Who is a freight broker?
Now the biggest difference lies between the freight forwarder and the broker is that the freight broker never takes the possession of the freight. The main work of the broker is acting as the middle-man to connect the carriers and the shippers and doesn’t issue the bill of lading with the carrier as their name. Brokers cant be held responsible for any claims. A freight broker works on a commision basis while connecting cargo owners to the shipping lines. like any other broker Freight broker also brings together a buyer and a seller, while in this case, the buyer is the shipper and the seller is the trucking company also known as the carrier. The freight brokers handle the paperwork of the deal and also negotiates the terms. Freight brokerage business can be operated from home or a small office, with property industry knowledge and contacts.
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