Rate Cap: Your Shield Against Uncertainty in Shipping Costs
In an ever-changing shipping landscape, rate increases can be unpredictable and costly. That's why Rate Caps, a contractual mechanism help safeguards your shipping costs by capping General Rate Increases (GRI) at a predetermined level. Each year, carriers announce their published rate increases, but with a Rate Cap in place, you're protected from excessive rate hikes.
How Rate Caps Work
When the carriers announce a General Rate Increase (GRI) of 8%, for example, a Rate Cap of 5% ensures that your shipping costs will only increase by 5%. This means you'll avoid the full 8% increase, keeping your costs more manageable and budget-friendly.
Access Your Rate Cap Information
Your Rate Cap information is readily available in the Reveel Platform. Simply navigate to the PDF agreement or digital agreement under the Agreement Comparison tab to view your specific rate cap details.