|
- I - |
|
TERM |
DEFINITION |
|
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. |
|
IAC |
In Any Case |
|
IACS |
See
"International Association of Classification Societies" |
|
IAE |
In Any Event |
|
IANAL |
I'm Not A Lawyer (but) |
|
IATA |
See "International Air Transport
Association" |
|
IATA Cargo Agent |
An agent
approved by IATA and registered in the IATA Cargo Agency List. This enables
the agent, upon authorization of the IATA carrier, to receive shipments, to
execute Air Waybills and to collect charges (aircargo). |
|
IATA Member |
An airline
which is a member of IATA (aircargo). |
|
IAW |
In Any Way |
|
IC |
I See |
|
ICAO |
International Civil Aviation Organization. |
|
ICC |
Abbreviation for (1) "Interstate Commerce Commission,"
(2) "International Chamber of Commerce." |
|
ICC Clauses (Ins) |
See "Institute Cargo
Clauses" |
|
ICD |
See "Inland
Clearance Depot" |
|
Ice Clause |
An ice clause is a standard clause in the
chartering of ocean vessels. It dictates the course a vessel master may take
if the ship is prevented from entering the loading or discharge port because
of ice, or if the vessel is threatened by ice while in the port. The clause
establishes rights and obligations of both vessel owner and charterer if
these events occur. |
|
ICHCA |
International Cargo Handling Coordinating Association |
|
ICS |
See "International
Chamber of Shipping" |
|
ICTF |
Intermediate Container transfer Facility - ICTF
is a site where cargo is transferred from one form of transit to another,
such as rail to ship. |
|
ICW |
Intracoastal Waterway - series of waterways along a coast connected so that
vessels may travel without venturing into open sea. |
|
Idle Time |
The amount of
ineffective time whereby the available resources are not used e.g. a container
in a yard. |
|
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. |
|
IFM |
Inward
Foreign Manifest |
|
Igloos |
Pallets
and containers used in air transportation; the igloo shape fits the internal
wall contours of a narrow-body airplane. |
|
Ignition |
Setting on
fire or catching fire. |
|
IHA |
I Hate Acronyms |
|
IHU |
I Hear You |
|
IIRC |
If I Remember Correctly |
|
ILO |
See "International
Labour Organization" |
|
IM |
Immediate Message or Instant Message |
|
IMB |
International Maritime Bureau |
|
IMC |
See "Intermodal Marketing Company" |
|
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. |
|
IMCO |
In My Considered Opinion |
|
I.M.D.G. Code |
International
Maritime Dangerous Goods Code. The regulations published by the IMO for
transporting hazardous materials internationally. |
|
IMHO |
In My Humble Opinion |
|
IMing |
Chatting or "Instant Messaging" |
|
Immediate Delivery Entry |
See
Customs Entries. |
| Immediate
Exportation
|
An entry that allows foreign merchandise arriving at one port
to be exported from the same port without the payment of duty. |
|
Immediate Transportation Entry |
See
Customs Entries |
|
IMNSHO |
In My Not So Humble Opinion |
| IMO |
See "International Maritime Organization" |
|
IMO |
In My Opinion |
| Implied Warranty |
A warranty is a representation by the policyholder that certain conditions exist
or will be met. Even if the warranty is not in writing, it may exist as an
"implied" warranty, e.g., that a building is not on fire when insured, or that a
vessel is seaworthy. |
| Import |
To receive goods from a foreign country. |
|
Import Certificate |
The import certificate is a means by which the
government of the country of ultimate destination exercises legal control
over the internal channeling of the commodities covered by the import
certificate. |
|
Importer of Record |
US Customs Service defines the importer of
record as the owner or purchaser of the goods; or, when designated by the
owner, purchaser, or consignee, a licensed Customs broker. |
|
Import License |
A document required and issued by some national governments
authorizing the importation of goods. |
|
Import Letter of Credit |
Term used by an importer to
describe a commercial letter of credit he has asked a bank to issue or by a bank
to describe a letter of credit it has issued. The same L/C will be called an
"export letter of credit" by the exporter and all other banks. |
|
IMS |
I Am Sorry |
| In &/Or Over |
Goods carried below and/or on deck. |
|
Incoterms |
Trade
terms in coded form as established by the International Chamber of Commerce
in 1953, whereafter they have been regularly updated |
|
In Bond |
Cargo moving under Customs control where duty has not yet been
paid.
The transportation of a shipment to an inland point for Customs clearance
rather than filing an entry to clear the goods at the port of arrival. |
|
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. |
|
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. |
|
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. |
|
Inchmaree Clause |
(So-called for a famous legal decision involving a vessel of that name.) Covers
losses resulting from a latent defect in the vessel's hull or machinery and
losses resulting from errors in navigation or management of the vessel by the
master or crew. |
|
INCOTERMS |
The recognized abbreviation for the International Chamber of
Commerce Terms of Sale. These terms were last amended, effective July 1,
2000.
|
| IND |
Indication - In insurance terms an offer of a premium rate that is not binding
on either party. |
|
Indemnification |
Compensation
for a loss and/or the expenses incurred. |
|
Indemnify (Ins) |
To restore the
victim of a loss, in whole or in part, by payment, repair or replacement. |
|
Indemnity Bond |
An agreement to hold a carrier harmless with regard to a
liability. |
|
Indemnity Bond (Ins) |
A bond
which indemnifies the obligee against loss which arises as a result of
failure on the part of a principal to perform. |
|
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 Adjuster
(Ins) |
An adjuster
who works as an independent contractor, hiring himself out to insurance
companies or other organizations for the investigation and settlement of
claims. |
|
Independent Guarantee |
See "Demand Guarantee" |
|
Independent Tariff |
Any body of rate tariffs that are not part of an agreement or
conference system. |
|
Indirect Route |
Any route
other than the direct route (aircargo). |
|
Individual Validated License |
An IVL is written approval by which the U.S.
Department of Commerce grants permission, which is valid for 2 years, for
the export of a specified quantity of products or technical data to a single
recipient. IVLs also are required, under certain circumstances, as
authorization for the reexport of U.S.-origin commodities to new
destinations abroad. |
|
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. |
|
Inert Gas System |
A system of preventing
any explosion in the cargo tanks of a tanker by replacing the cargo, as it
is pumped out, by an inert gas, often the exhaust of the ship's engine.
Gas-freeing must be carried out subsequently if worker have to enter the
empty tanks. |
|
Inflammable Liquids |
Liquids liable to
spontaneous combustion which give off inflammable vapors at or below 80
degrees F. For example, ether, ethyl, benzine, gasoline, paints, enamels,
carbon disulfide, etc. |
|
infrastructure |
System of
roads, waterways, airfields, ports and/or telecommunication networks in a
certain area. |
|
Inherent Advantage |
The cost
and service benefits of one mode compared with other modes. |
|
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.
- A
defect or cause of loss arising out of the nature of the goods in question. |
|
Inland Bill of Lading |
A bill of lading used in transporting goods
overland to the exporter's international carrier. Although a through bill of
lading can sometimes be used, it is usually necessary to prepare both an
inland bill of lading and an ocean bill of lading for export shipments. (See
also "Bill of Lading" |
|
Inland Carrier |
A transportation line that hauls export or import traffic
between ports and inland points. |
|
Inland Clearance Depot (ICD) |
Inland
location where cargo, particularly containerized, may be cleared by customs |
|
Inland Marine Insurance
(Ins) |
A branch of
the insurance business which developed from the insuring of shipments which
did not involve ocean voyages. Exposures eligible for this form of
protection are described in the nationwide definition of Marine Insurance.
Such diverse properties as bridges, tunnels, jewelry, and furs can now be
written under Inland Marine forms. |
|
Inland Point Intermodal |
Inland
carriage by another mode of transportation after port discharge, cargo
moving to/from an inland point. |
|
INMARSAT |
International Maritime
Satellite System |
|
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 Letter of Credit |
Letter of credit calling for multiple shipments within specified date
ranges. |
|
Installment Shipments |
Successive shipments are permitted under letters of credit.
Usually they must take place within a given period of time. |
|
Institute Cargo Clauses
(Ins) |
Treaty
wordings developed by the International Chamber of Commerce. There are three
basic sets of these clauses (A, B and C). The A clauses cover "all risks",
subject to specified exclusions. The B and C clauses cover specified
"risks", subject to specified exclusions. (See actual Institute Cargo
Clauses treaty wordings at
www.allcovered.net |
|
Institute Replacement Clause (Ins) |
A clause
limiting Underwriters' liability for damage to machinery cargo. |
|
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. |
|
Insurable Interest
(Ins) |
A direct
monetary interest in the insured property sufficient to result in monetary loss
should the property be damaged or destroyed. |
|
Insurable Risk (Ins) |
A risk which
meets most of the following requisites: (1) The loss insured against must be
defined; (2) It must be accidental; (3) It must be large enough to cause
hardship to the insured; (4) It must belong to a homogenous group of risks large
enough to make losses predictable; (5) It must not be subject to the same loss
at the same time as a large number of other risks; (6) The insurance company
must be able to determine a reasonable cost for the insurance; (7) The insurance
company must be able to calculate the chance of loss. |
|
Insurance |
A system of
protection against loss under which a number of parties agree to pay certain
sums (premiums) for a guarantee that they will be compensated under certain
conditions for specified loss and damage. |
|
Insurance Certificate |
Certificate used to assure the consignee that
insurance is provided to cover loss of or damage to the cargo while in transit. |
|
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. Particular-average 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. |
|
Insurance Company |
The party
covering the risks of the issued goods and/or services that are insured. |
|
Insured (Ins) |
The person
whose risk is transferred and shared; the party to an insurance agreement whom
the insurer agrees to indemnify for losses, provide benefits for, or render
services to. |
|
Insurer (Ins) |
The company or
group offering protection through the sale of an insurance policy to an insured;
the party to an insurance agreement who undertakes to indemnify for losses,
provide pecuniary benefits, or render services. |
|
Insured Value |
Usually computed by adding the invoice cost, guaranteed freight, other costs,
and insurance premium plus a percentage, commonly 10%. This usually represents
landed value. |
|
Integrated Carrier |
Carriers that have both air and ground fleets;
or other combinations, such as sea, rail, and truck. Since they usually
handle thousands of small parcels an hour, they are less expensive and offer
more diverse services than regular carriers. |
|
Integrated Tug Barge |
A large barge of about
600 feet and 22,000 tons cargo capacity, integrated from the rear on to the
bow of a tug purposely constructed to push the barge. |
|
Interchange |
Transfer
of a container from one party to another. |
|
Interchange Agreement |
Contract
between carrier and trucker that legally permits interchange of equipment. |
|
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. |
|
Intercorporate Hauling |
A private
carrier hauling a subsidiary's goods and charging the subsidiary a fee; this
is legal if the subsidiary is wholly owned or if the private carrier has
common carrier authority. |
|
Interim Receipt |
A receipt
given by a carrier pending execution of an Air Waybill (aircargo). |
|
Interline |
Two or
more motor carriers working together to haul a shipment to a destination.
Carriers may interchange equipment but usually they rehandle the shipment
without transferring the equipment. |
|
Interline Agreement |
The
cooperation between two or more airlines for the carriage over particular
routes (aircargo). |
|
Interline Carriage |
The
carriage over the routes of two or more parties of an interline agreement
(aircargo). |
|
Interline Carrier |
A carrier
with whom another carrier has an interline agreement. |
|
Interline Freight |
Freight moving from origin to destination over the Freight
lines of two or more transportation carriers. |
|
Intermediate Consignee |
An intermediate consignee is the bank,
forwarding agent, or other intermediary (if any) that acts in a foreign
country as an agent for the exporter, the purchaser, or the ultimate
consignee, for the purpose of effecting delivery of the export to the
ultimate consignee. |
|
Intermediate Container Transfer Facility (ICTF) |
ICTF is a site where cargo is transferred from
one form of transit to another, such as rail to ship. |
|
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. |
|
Intermodal Container Transfer Facility |
A facility
where cargo is transferred from one mode of transportation to another,
usually from ship or truck to rail. |
|
Intermodal Marketing Company |
An
intermediary that sells intermodal services to shippers. |
|
International Air Transport Association
(IATA) |
An
international organization of airlines, founded in 1945, with the aim of
promoting the commercial air traffic. This should be achieved by cooperation
between parties concerned and by performance of certain rules, procedures
and tariffs, regarding both cargo and passengers, by those parties. |
|
International Association of
Classification Societies (IACS) |
An
organization in which the major classification societies, among others
American Bureau of Shipping, Lloyd's Register of Shipping and Germanischer
Lloyd, are joined, whose principal aim is the improvement of standards
concerning safety at sea. |
|
International Carriage |
Carriage
whereby the place of departure and any place of landing are situated in more
than one country (aircargo). |
|
International Chamber of Commerce (ICC) |
International standards and practices organization (www.iccwbo.org) |
|
International Import Certificate |
A document
required by the importing country indicating that the importing country
recognizes that a controlled shipment is entering their country. The
importing country pledges to monitor the shipment and prevent its re-export,
except in accordance with its own export control regulations. |
|
International Labour Organization (ILO) |
An United
Nations agency, dealing with employment rights and working conditions,
covering work at sea and in ports. |
|
International Load Line Certificate |
A certificate which
gives details of a ship's freeboards and states that the ship has been
surveyed and the appropriate load lines marked on her sides. A
classification society or the Coast Guard issues this certificate. |
|
International Maritime Bureau |
A special
division of the International Chamber of Commerce. |
|
International Maritime Dangerous Goods
Code (IMDG) |
A code, representing the classification of dangerous goods as
defined by the International Maritime Organization (IMO) in compliance with
international legal requirements. |
|
International Maritime Organization |
The IMO was established as a specialized agency
of the United Nations in 1948. The IMO facilitates cooperation on technical
matters affecting merchant shipping and traffic, including improved maritime
safety and prevention of marine pollution. Headquarters are in London,
England. |
|
International Standards Organization
(ISO) |
ISO
deals in standards of all
sorts, ranging from documentation to equipment packaging and labeling. |
|
International Tonnage Certificate |
A certificate issued to
a shipowner by a government department in the case of a ship whose gross and
net tonnages have been determined in accordance with the International
Convention of Tonnage Measurement of Ships. The certificate states the gross
and net tonnages together with details of the spaces attributed to each. |
|
International Waterways |
Consist of international
straits, inland and interocean canals and rivers where they separate the
territories of two or more nations. Provided no treaty is enforced both
merchant ships and warships have the right of free and unrestricted
navigation through these waterways. |
|
Interstate Commerce |
The
transportation of persons or property between states; in the course of the
movement, the shipment crosses a state boundary. |
|
Interstate Commerce Commission (ICC) |
An
independent regulatory agency that implements federal economic regulations
controlling railroads, motor carriers, pipelines, domestic water carriers,
domestic surface freight forwarders, and brokers. |
|
Intertanko |
An association of
independent tanker owners whose aims are to represent the views of its
members internationally |
|
Intrastate Commerce |
The
transportation of persons or property within states; in the course of the
movement, the shipment does not cross a state boundary. |
|
Inventory |
The number
of units and/or value of the stock of goods a company holds. |
|
Inventory Cost |
The cost
of holding goods, usually expressed as a percentage of the inventory value;
includes the cost of capital, warehousing, taxes, insurance, depreciation,
and obsolescence. |
|
inventory In Transit |
Inventory
in a carrier's possession, being transported to the buyer. |
|
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. |
|
IOW |
In Other Words |
| IPI |
Abbreviation for "Inland Point Intermodal." Refers to inland
points (non-ports) that can be served by carriers on a through bill of lading. |
|
IRL |
In Real Life |
|
Irrespective of Percentage |
Letter of Credit wordings requiring no
deductible/excess |
| 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. |
|
ISM Code |
The International
Maritime Organization Assembly adopted the International Safety Management
Code (ISM Code) in 1993. On July 1, 1998, the ISM Code became mandatory for
passenger vessels, passenger high-speed craft, oil tankers, chemical
tankers, bulk carriers, and cargo high-speed craft of 500 gross tons or
more. On July 1, 2002, the ISM Code became applicable to other cargo ships
and to self-propelled mobile offshore drilling units of 500 gross tons or
more. |
|
I.S.O. |
International Standards Organization which deals in standards
of all sorts, ranging from documentation to equipment packaging and labeling. |
|
ISPS Code |
The International Ship
and Port Facility Code adopted by an IMO Diplomatic Conference in December
2002. Measure is designed to strengthen maritime security. |
|
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. |
|
ISWYM |
I See What You Mean |
|
ITIGBS |
I Think I am Going To Be Sick |
| 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.
- "In-Transit" Entry. |
| ITF |
International transport Workers Federation |
| Itinerary |
Route Scheduled |
| IU |
If Used |
| IUHTAUTC |
If Used, Half Time Actually Count |
|
IVL |
See "Individual Validated License" |
| IWL |
Institute Warranty Limits |
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|
| |
|
DISCLAIMER: These terms and definitions have been gathered
from many sources public and private. This list is designed to serve as a
reference. No warranty for the accuracy is stated nor implied. |
|
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5 Steps + 2
Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O -
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-- We have Logistics AllCovered -- |
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These terms, abbreviations
and descriptions have been gathered from many sources
online and in print. No warranty for their accuracy is stated nor implied. |
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Last Updated:
Monday, 08 June 2009 13:26:48 -0500 |
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