Glossary: I

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I/A - Abbreviation for Independent Action. A conference member's right to publish a rate of tariff rule that departs from the Agreement's common rate or rule.

IBID - Latin expression meaning in the same place.

ICC - Abbreviation for 1) Interstate Commerce Commission; 2) International Chamber of Commerce.

ICTF - The acronym meaning lntermodal Container Transfer Facility where cargo is transferred from one mode of transportation to another, usually from ship to rail, or from truck to rail.

IE - Short for Immediate Exit. In the United States, the IE Customs Form is used when goods are brought into the U.S. and are to be re-exported immediately without being transported within the U.S.

I.M.C.O. - The 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 - It refers to the 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 any import duties.

Immediate Transport (I.T.) - Short for Immediate Transport. The document that is prepared by the carrier allows shipment to proceed from port of entry in the U.S. to Customs clearing at the destination. The shipment clears customs at its final destination.

Import - Goods that are being received from a foreign country.

Import License - A document required and issued by some national governments authorizing the importation of goods into their individual countries.

In Bond - A term applied to the status of merchandise admitted provisionally to another country without payment of duties-either for storage in a bonded warehouse or for transshipment to another point, where duties will eventually be imposed.

Incentive Rate - A rate than is lower than the usual tariff rate assessed, due to the fact that a shipper offers a greater volume than specified in the tariff.  The incentive rate is assessed for that part of the shipment that exceeds the normal volume.

INCOTERMS - The official and recognized abbreviation for the International Chamber of Commerce Terms of Sale. A codification of international rules for the uniform interpretation of common contract clauses in export/import transactions involving goods.

Indemnify - To compensate/repay for loss sustained.

Indemnity Bond - An agreement that states that a carrier will be held harmless with regard to any liability.

Independent Action - A move whereby a member of a shipping conference elects to depart from the specific service rates set forth by the conference, giving a ten-day notice of such action. The conference member's new schedule of rate or rates officially takes place no later than ten days after receipt of notice of the conference.

Independent Tariff - Any set of rates and/or tariffs that are not part of any formal agreement or conference system.

Inducement - Adding a port of call to a vessel's itinerary because the volume of cargo available at that port justifies the cost of routing the vessel.

Inflatable Dunnage - Flexible bags usually made from vinyl materials, which can be inflated within the void space of a container/trailer to prevent movement of cargo.

Information Systems - A combination of personnel efforts, forms, instructions, date, procedures, communication facilities, and equipment that provides an organized and interconnected means for displaying information in support of specific functions .

In Gate - Cargo that is moving under the control of Customs, since duty has not yet been paid.

Inherent Vice - A Joss caused by the inherent nature of the thing insured and not a result to a casualty or external Joss.   Insurance policies may exclude inherent vice losses.

Initial Margin - The amount of margin which has been deposited with the clearing house both by the buyer and seller through the respective broker and/or bank to establish a position in a futures contract.

Inland Bill of Lading - A bill of Jading used in transporting goods overland to the exporter's international carrier.

Inland Carrier - Transportation line which hauls export or import traffic between ports and inland points.

Installment Shipment - Successive shipments are allowed under letters of credit. Generally, installment shipments stipulate that they must take place in a set period of time.

Insulated Container - A container that is insulated throughout, (walls, roof, floor, and doors) to reduce any effects of external temperature change on the cargo.

Insulated Tank - A container frame, constructed to hold one or more thermally insulated tanks for liquids or gases.

Inspection Certificate - A document issued by an independent agent certifying that merchandise (such as perishable goods) was in good condition immediately prior to its shipment.

Insurance - Contractual relationship which exists when one party, for a consideration, agrees to reimburse another for loss caused by designate contingencies; first party is insurer, second is insured, contract is insurance policy, consideration is premium, property in question is risk, contingency in question is hazard/peril.

Average-clause, with: This clause is designed to cover merchandise if the damage amounts to 3% or more of the insured value of the goods or cargo. If the vessel burns, collides, or sinks all losses are fully covered.

All-risk: This kind of insurance offers the shipper the greatest protection available; it covers all losses that may occur during transit.

General-Average: This type of clause covers damage or loss arising from maritime ventures or loses resulting in all shippers contributing to the owners of the cargo onboard a vessel toward a loss sustained by the vessel owner when property has been thrown overboard or sacrificed necessarily in order to save the ship and/or part of its cargo.

Particular-Average: It refers to partial loss of an individual shipment from one of the perils insured against irrespective of the balance of the cargo.  Although particular­ average insurance can generally be obtained, Joss must be in excess of a certain per centage of the insured value of the shipment, usually 3% to 5%, before a claim will be allowed.

International Air Transport Association (lATA) - Association of member airlines and developer of lATA Dangerous Goods Code which is used as a reference and unofficial guidance for air shipments of hazardous material.  The lATA Dangerous Goods Code includes special restrictions imposed by its member airlines.

Integrated Tow Barge - A series of barges that are connected together to operate as one unit.

Inter Alia - Latin phrase meaning among other things.

Interchange - Process of passing, freight from one carrier to another between lines.

Intercoastal Carriers - Water carriers that transport freight between two costs.  In the United States, this would usually refer to water service between the east-coast and west-coast.

Interline - Traveling from origin to destination over the lines of two or more carriers.

Intellectual Property - A general term, which describes inventions or other discoveries that have been registered with government authorities for sale or use by their owner. Intellectual property includes patents, trade symbols, trademarks, copyrights and trade secrets.

Intermediate Point - A point located en route between two other points.

Intermodal - The transportation of containerized goods using a variety of modes, whether ocean, air or surface.

Internal Water Carriers - Water carriers that operate over the internal, navigable rivers such as the Mississippi, Ohio and Missouri.

Interstate - Means between states, applies to transportation of goods/persons from point in one state to point in another, between points in same state but passing within/through another state en route, between points in US and foreign countries.

Interstate Commerce - Business of exchanging goods between buyers and sellers of two or more states.

International Freight Forwarder - See Freight Forwarder.

Intertheater - Between theaters or between the continental U.S. and theaters.

Intra - Latin term meaning within.

Intra-Continental - Within the continental United States.

In Transit - Referring to the fact that the cargo has not yet reached its final destination, the cargo is said to be in transit.  Load proceeding along route between home terminal and destination point.

In-Transit visibility (lTV) - The ability to track the identity, status, and location of DOD unit and non-unit cargo (excluding bulk petroleum, oils, and lubricants) and passengers: medical patients: and personal property from origin to consignee or destination established by the CINC's the Services or DOD agencies during peace, contingencies, and war.

Intrastate Commerce - When all business between buyers/sellers is carried on within state.

In Trust- In documentary collection, when a bank releases documents to allow the importer/buyer to inspect them prior to payment.

Inventory - A listing of all of the customers belongings contained within a shipment, or a list of all of the items in a particular shipment.

Invoice - A list that itemizes the goods shipped to the buyer and states their quantity, price, charges for' shipping, as well as any other charges to be paid.

Inward Foreign Manifest (IFM) - A complete listing of all the cargo that is entering the country of di charge. It is required by all world ports and it is the primary tool for cargo control, against which duty is assessed by the receiving country.

IPI - Abbreviation for Inland Point lntermodal. It refers to inland points (non-ports) that can be served by carriers on a through bill of lading.

Irregular - Route Carrier - A motor carrier that is permitted to provide service using any route. Irrevocable Letter of Credit - A letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee. Furthermore it can not be revoked without joint agreement of both the buyer and the seller.

Irritating Material - As defined in the Hazardous Materials Regulations in 49 CFR, liquid or solid substance which upon contract with fire or when exposed to air gives off dangerous or intensely irritating fumes; does not include any material classed as Poison A.

I.S.O. - International Standards Organization. An organization that evaluates and deals with all sorts of standards, ranging from documentation processes to equipment maintenance and may more.

Issuing Carrier - The carrier issuing transportation documents or publishing a tariff.