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Today's video focuses on the differences between spot rates and contract rates when it comes to getting and transporting loads. A contract rate is a pre-agreed price with the shipper or broker for a set amount of freight over a period of time. In contrast, a spot rate is a short-term price based on market supply and demand, often found on load boards for immediate transport. Contract rates offer stability and guaranteed income, while spot rates offer flexibility and higher potential earnings based on current market conditions. Understanding the pros and cons of each can help carriers make informed decisions when choosing between the two options.