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An electronic freight exchange (EFX) is an online service for freight haulers/haulage companies, logistics providers, and freight forwarders. It allows transport companies/haulers to search advertisements for freight, and freight forwarders/logistics providers to offer freight to be transported.
These systems provide a platform that allows carriers to communicate freight traffic information to fellow operators such as transporters, forwarders and logistics companies. They allow forwarders to advertise their freight either privately or publicly to a large number of freight operators that are looking for loads. They also allow freight operators to offer vehicle space. Online systems are normally subscription-based with a small charge for advertising (posting) and searching (consulting).
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