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Top Terms > Transportation operations > Freight and passenger services > Rates, fares and tolls > Rates > Contract rates

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Contract rates (Bbkbc)

Definition
Agreement between a carrier and a shipper for rail transportation in which the railroad agrees to a specific rate for a specific period of time in exchange for consideration from the shipper, such as a commitment to tender a specific amount of freight during a specific period or to make specific investments in rail facilities. (Source: Federal Register: April 4, 2007 (Volume 72, Number 64), Page 16316)
Broader Term
Rates (Bbkb)
Related Terms (Hierarchical)
Charter rates (Bbkbh)
Tariffs (Bbkbt)
Rate making (Bbkbu)