Broker, Shipper Groups Devise Model Contract

November 23, 2004 7:00 AM, EST

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AN ANTONIO — Groups representing brokers and shippers approved a model contract last week that they said could facilitate negotiating transactions between companies in those businesses.

The model contract, developed jointly by the National Industrial Transportation League and the Transportation Intermediaries Association, covers such things as payments, bonds and claims.

“This was a fair middle ground. It’s a complete contract, where the parties can fill in the blanks” on rates and accessorial charges, said Chip Smith, president of broker firm Twin Modal Inc. in Roseville, Minn. Smith chairs TIA’s broker committee.

Smith said the new contract would save brokers and shippers time, given that “some contracts [now] take a week” to negotiate.

For the full story, see the Nov. 22 edition of Transport Topics. Subscribe today.