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A B
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Q R
S T
U V
W XYZ
I/A
Abbreviation for "Independent Action." The right
of a conference member to publish a rate of tariff rule that
departs from the Agreement's common rate or rule.
ICC
Abbreviation for (1) "Interstate Commerce Commission,"
(2) "International Chamber of Commerce."
IE
Stands for "Immediate Exit." In the U.S., Customs
IE Form is used when goods are brought into the U.S. and are
to be immediately re-exported without being transported within
the U.S.
I.M.C.O.
International Maritime Consultative Organization. A forum
in which most major maritime nations participate and through
which recommendations for the carriage of dangerous goods,
bulk commodities, and maritime regulations become internationally
acceptable.
I.M.D.G. Code
International Maritime Dangerous Goods Code. The regulations
published by the IMO for transporting hazardous materials
internationally.
Immediate Exportation
An entry that allows foreign merchandise arriving at one port
to be exported from the same port without the payment of duty.
In-Transit Entry (I.T.)
Allows foreign merchandise arriving at one port to be transported
in bond to another port, where a superseding entry is filed.
Import
To receive goods from a foreign country.
Import License
A document required and issued by some national governments
authorizing the importation of goods.
In Bond
Cargo moving under Customs control where duty has not yet
been paid.
In Gate
The transaction or interchange that occurs at the time a container
is received by a rail terminal or water port from another
carrier.
In Transit
In transit, or in passage.
Incentive Rate
A lower-than-usual tariff rate assessed because a shipper
offers a greater volume than specified in the tariff. The
incentive rate is assessed for that portion exceeding the
normal volume.
INCOTERMS
The recognized abbreviation for the International Chamber
of Commerce Terms of Sale. These terms were last amended,
effective July 1, 1990.
Indemnity Bond
An agreement to hold a carrier harmless with regard to a liability.
Independent Action
Setting rate within a conference tariff that is different
from the rate(s) for the same items established by other conference
members.
Independent Tariff
Any body of rate tariffs that are not part of an agreement
or conference system.
Inducement
Placing a port on a vessel's itinerary because the volume
of cargo offered at that port justifies the cost of
routing the vessel.
Inherent Vice
An insurance term referring to any defect or other characteristic
of a product that could result in damage to the product without
external cause (for example, instability in a chemical that
could cause it to explode spontaneously). Insurance policies
may exclude inherent vice losses.
Inland Carrier
A transportation line that hauls export or import traffic
between ports and inland points.
Inspection Certificate
A certificate issued by an independent agent or firm attesting
to the quality and/or quantity of the merchandise being shipped.
Such a certificate is usually required in a letter of credit
for commodity shipments.
Installment Shipments
Successive shipments are permitted under letters of credit.
Usually they must take place within a given period of time.
Insulated Container
A container insulated on the walls, roof, floor, and doors,
to reduce the effect of external temperatures on the cargo.
Insulated Container Tank
The frame of a container constructed to hold one or more thermally
insulated tanks for liquids.
Insurance with Average-clause
This type of clause covers merchandise if the damage amounts
to three percent or more of the insured value of the package
or cargo. If the vessel burns, sinks, collides, or sinks,
all losses are fully covered. In marine insurance, the word
average describes partial damage or partial loss.
Insurance, All-risk
This type of insurance offers the shipper the broadest coverage
available, covering against all losses that may occur in transit.
Insurance, General-Average
In water transportation, the deliberate sacrifice of cargo
to make the vessel safe for the remaining cargo. Those
sharing in the spared cargo proportionately cover the loss.
Insurance, Particular Average
A Marine insurance term to refer to partial loss on an individual
shipment from one of the perils insured against, regardless
of the balance of the cargo. Particularaverage insurance can
usually be obtained, but the loss must be in excess of a certain
percentage of the insured value of the shipment, usually three
to five percent, before a claim will be allowed by the company.
Interchange Point
A location where one carrier delivers freight to another carrier.
Intercoastal
Water service between two coasts; in the U.S., this usually
refers to water service between the Atlantic and Pacific or
Gulf Coasts.
Interline Freight
Freight moving from origin to destination over the Freight
lines of two or more transportation carriers.
Intermediate Point
A point located en route between two other points.
Intermodal
Used to denote movements of cargo containers interchangeably
between transport modes, i.e., motor, water, and air carriers,
and where the equipment is compatible within the multiple
systems.
Invoice
An itemized list of goods shipped to a buyer, stating quantities,
prices, shipping charges, etc.
Inward Foreign Manifest (IFM)
A complete listing of all cargo entering the country of discharge.
Required at all world ports and is the primary source of cargo
control, against which duty is assessed by the receiving country.
IPI
Abbreviation for "Inland Point Intermodal." Refers
to inland points (non-ports) that can be served by carriers
on a through bill of lading.
Irrevocable Letter of Credit
Letter of credit in which the specified payment is guaranteed
by the bank if all terms and conditions are met by the drawee
and which cannot be revoked without joint agreement of both
the buyer and the seller.
I.S.O.
International Standards Organization which deals in standards
of all sorts, ranging from documentation to equipment packaging
and labeling.
Issuing Bank
Bank that opens a straight or negotiable letter of credit
and assumes the obligation to pay the bank or beneficiary
if the documents presented are in accordance with the terms
of the letter of credit.
Issuing Carrier
The carrier issuing transportation documents or publishing
a tariff.
I.T.
Abbreviation for "Immediate Transport." The document
(prepared by the carrier) allows shipment to proceed from
the port of entry in the U.S. to Customs clearing at the destination.
The shipment clears Customs at its final destination.
Also called an "In-Transit" Entry
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