uShip, an online transport marketplace, introduced brokered loads into its online freight exchange, allowing brokers and 3PLs to leverage its spot market exchange to connect with thousands of verified and rated carriers.
uShip made the announcement from the Transportation Intermediaries Association (TIA) Convention & Tradeshow in Orlando, Fla. uShip’s brokered load service is currently in beta and available through invitation only.
Until now, uShip only allowed brokers and carriers to bid on shipper-posted freight, but starting today, brokers can now post brokered loads as well. Carriers that use uShip will either see a label on the listing that the load is brokered or they can filter “brokered loads” within their shipment searches.
Unlike traditional load boards, uShip says it offers a true transactional exchange, meaning all loads are posted with fixed-price offers with competitive carrier bidding and tendering taking place online. The transactional model also allows for a high-integrity feedback rating system and eliminates the need to charge subscription fees.
uShip’s exchange is completely free for brokers, while Carriers pay only a small, flat transaction fee for completed brokered loads.
“Over the last six years, uShip has pioneered the transactional exchange model – first on the retail shipper side of the market and now with brokered-loads,” said Matt Chasen, CEO and founder of uShip.
“uShip’s unique transactional exchange goes beyond the traditional load board model,” said Charles Myers, former president of Getloaded.com and past member of the TIA Board. “Pre-qualified carriers either take a load at the posted price or bid against other pre-qualified carriers in an online auction format. When the carrier accepts a load at the posted price or wins the bid, the load is tendered to the carrier and the remainder of the transaction is completed online. Through this exchange approach brokers will be able to drive down costs and carriers will get fair market value for the loads they move.”
In addition to utilizing uShip’s existing network of thousands of carriers, uShip will also be allowing brokers and 3PLs to bring their own carrier network and create their own private spot market exchange using uShip’s platform.
Brokers will continue to use the same process for bidding and winning customer business on uShip; however, brokers can now re-post loads directly from their My uShip pages for for jobs they’ve won on uShip and want to instantly post for carriers to cover.
uShip says its brokered-load exchange addresses brokers’ key issues with traditional load boards while offering uShip’s pre-existing products and services:
• Unique loads: uShip’s loads are 100% unique and not reposted or duplicated on other load boards
• No subscription or transaction fees: Brokers can post freight free of charge
• No phone calls: Carriers accept broker’s price or place a competing bid online
• Verified, monitored carriers: only carriers verified by CarrierWatch can participate
• Real ratings and reviews: eBay-like feedback system for shippers, brokers and carriers
• uShip’s got your back: Guaranteed delivery, guaranteed online payment
• Online tender: Automatic tendering to carriers directly through uShip
• Shipment Tracking: GPS tracking, pick-up and delivery notifications, and status updates
• uShip mobile “apps”: remotely manage loads on Apple iPhone and Android
• Private Exchange (coming soon): Bring your own carriers and create a private network freight exchange