General Rate Adjustment F26/F27 of 6.9%

To all our valued customers:

At Fastfrate, we remain committed to delivering exceptional value, quality, and service to help you meet your ever-evolving needs. We continue to invest in capacity, terminal infrastructure, service reliability, shipment visibility and long-term network sustainability.  For example, this year alone we have invested in our capacity and infrastructure, adding hundreds of containers to ease capacity as well as building and upgrading our facilities in Winnipeg, Toronto, Ottawa and Halifax to support growing demand.

In addition to these investments, we are faced with higher equipment, maintenance, labour, insurance, technology and terminal costs.    We are writing to inform you of an upcoming pricing adjustment which will be effective in 30 days and is reflected in the attached quotation.  Rate adjustments are necessary not simply to offset inflation, but to maintain the capacity, service reliability, equipment, technology and network infrastructure you depend on.

While we have worked diligently to manage rising costs, a combination of factors has driven expenses beyond levels we can continue to mitigate. Key contributing factors include:

• Ongoing market volatility and global economic uncertainty, which have significantly impacted supply chains and operational costs.  Documentation, customs processing and border delays create additional administrative costs, detention and less productive equipment utilization.
• Equipment Costs, for such items like tractors, trailers, tires, and parts remain at significant premiums vs. historic costs.  Tariffs on steel, aluminum and components add another layer of pressure.
• Insurance Costs for commercial insurance, cargo claims and repair costs have increased.
• Maintenance and repair costs have risen due to higher parts prices, technician wages and increasingly complex equipment.
• Labour costs continue to rise as we ensure we have qualified drivers, dock workers and terminal employees to efficiently move freight and also manage safety, emissions, customs, labour and equipment regulations.

Should you have an any questions regarding the rate adjustments or other service inquiries, please contact myself or your local account executive.

Sincere Regards,
Jay Lee
Vice President, Business Analytics & Engineering