I.V. Increased Value.
IACS → International Association of Classification Societies
IATA → International Air Transport Association
IATA Cargo Agent 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 (air cargo).
IATA Member Airline which is a member of IATA (air cargo).
ICAO → International Civil Aviation Organization
ICC Institute
Cargo Clauses. 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.
ICD → Inland Clearance Depot
ICHCA International Cargo Handling Coordinating Association.
ICS → International Chamber of Shipping
Identification Unique data, e.g. name, number or code, determining a certain object or person.
Idle Time Amount of ineffective time whereby the available resources are not used, e.g. a container in a yard.
Ignition Setting on fire or catching fire.
ILO → International Labor Organization
IMDG Code → International Maritime Dangerous Goods Code
IMGS → International Medical Guide for Ships
IMO → International Maritime Organization
Import License Document required and issued by some national governments authorizing the importation of goods into their individual countries.
Importer Party
responsible for the import of goods. For customs purposes it is the
party that makes, or on whose behalf an agent makes, an import
declaration.
In Bond Term applied to the status of
merchandise admitted provisionally to a country without payment of
duties either for storage in a bonded warehouse or for transshipment to
another point, where duties will eventually be imposed.
In Transit Status of goods or persons between the outwards customs clearance and inwards customs clearance. → Goods in Transit → Bonded Transit Warehouse
Incoterms In
1936, the International Chamber of Commerce first published a set of
international rules for the interpretation of trade terms. These rules
became known as Incoterms. Amendments and additions have occurred in
1953, 1967, 1976, 1980, 1990 and 2000. → Incoterms
Incremental Cost to Export Additional
costs incurred while manufacturing and preparing a product for export
(e.g., product modifications, special export packaging and export
administration costs). This does not include the costs to manufacture a
standard domestic product, export crating and transportation to the
foreign market.
Indemnification Compensation of lading for a loss and/or the expenses incurred.
Indirect Route Any route other than the direct route. → Direct Route
Individually Validated Export License A
required document issued by the Government authorizing the export of
specific commodities. This license is for a specific transaction or
time period in which the exporting is to take place. → General Export License
Inherent Vice Characteristic
of cargo which causes, or is liable to cause, loss or damage to the
cargo, without any accident occurring (e.g. spontaneous combustion). It
is always excluded by the insurers of the cargo because of its
inevitable nature.
Inland Bill of Lading Synonym for Consignment Note, used in USA and Canada. → Consignment Note
Inland Clearance Depot Abbreviation: ICD. Inland location where cargo, particularly containerized, may be cleared by customs.
Inland Waterways Bill of Lading Transport
document made out to a named person, to order or to bearer, signed by
the carrier and handed to the sender after receipt of the goods.
Inspection Company Company
providing inspection of goods and packing to meet special requirements
and specifications called for by buyer and seller.
Insulated Container Thermal container without devices for cooling and/or heating.
Insulated Tank Container Container frame holding one or more thermal insulated tanks for liquids.
Insurable Interest It
is illegal for anyone to insure without an insurable interest or, in
the case of marine insurance, a reasonable expectation of acquiring
such interest. In general, a party has such interest when its
relationship to property at risk may result in the exposure to loss or
liability and where it stands to gain by the safety of the property.
Insurance Protection
against loss or damage for which a party agrees to pay a certain sum
(premiums) for a guarantee that they will be compensated under certain
conditions for loss or damage.
Insurance Certificate Proof of an insurance contract.
Insurance Company Party covering the risks of the insured goods and/or services.
Insured Party → Assured Party
Integrated Hardfreight SwissGlobalCargo’s time definite door-to-door airfreight service without weight limits.
Integrated Logistics Support Systematic
approach applied to simultaneous management of equipment and related
logistics support, in order to provide the customer with a desired
level of goods available.
Intercoastal As opposed to
coastal water operations, intercoastal refers to water transport
carried out between coasts (e.g. between Pacific and Atlantic coasts).
Intercontainer Cooperative formed by 19 European railways, for the management of international rail container traffic in Europe.
Interim Receipt Receipt given by a carrier pending execution of an Air Waybill.
Interline Agreement Cooperation between two or more airlines for the carriage over particular routes.
Interline Carriage Carriage over the routes of two or more parties of an interline agreement.
Interline Carrier Carrier with whom another carrier has an interline agreement.
Intermodal Transport Movement
of goods (containers) in one and the same loading unit or vehicle which
successively uses several modes of transport without handling the goods
themselves in changing modes. → Combined Transport
International Air Transport Association Abbreviation:
IATA. International organization of airlines, founded in 1945, with the
aim of promoting commercial air traffic. It encourages cooperation
between parties concerned and ensures that these interested parties
follow certain rules, procedures and tariffs, regarding both cargo and
passengers.
International Association of Classification Societies Abbreviation:
IACS. Organization in which the major classification societies, among
others American Bureau of Shipping, Lloyd’s Register of Shipping and
Germanischer Lloyd, are joined. Its 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.
International Chamber of Shipping Abbreviation:
ICS. Voluntary organization of national shipowners’ associations with
the objective of promoting the interests of its members, primarily in
the technical and legal fields of shipping operations.
International Civil Aviation Organization Abbreviation:
ICAO. International organization of governments, dealing with search
and rescue in distress, weather information, telecommunications and
navigational requirements.
International Labor Organization Abbreviation:
ILO. United Nations agency, dealing with employment rights and working
conditions, covering work at sea and in ports.
International Maritime Dangerous Goods Code Abbreviation:
IMDG Code. Code, representing the classification of dangerous goods as
defined by the International Maritime Organization (IMO) in compliance
with international legal requirements.
International Maritime Organization Abbreviation:
IMO. United Nations agency concerned with safety at sea. Its work
includes codes and rules relating to tonnage measurement of vessels,
load lines, pollution and the carriage of dangerous goods. Its previous
name was the Intergovernmental Maritime Consultative Organization
(IMCO).
International Medical Guide for Ships Abbreviation: IMGS. “The doctor at sea.”
International Organization for Standardization Abbreviation:
ISO. International Standards Organization also referred to as the
International Organization for Standardization. This is a worldwide
federation of national standards member bodies. It consists of
technical committees made up of governmental and non-governmental
international organizations. Draft international standards adopted by
the technical committees are circulated to member bodies for voting.
Adoption of standards requires approval of at least 75% of member
bodies that cast a vote.
International Safety Management Code This
international standard for the safe management and operation of ships
prescribes rules for the organization of a shipping company management
in the context of safety and pollution prevention and requires the
development and implementation of a safety management system.
International Transport and Information System Abbreviation:
INTIS. Organization with the aim to improve the position of the port of
Rotterdam by the development, realization and exploitation of a
communication and information network through computers.
INTIS → International Transport and Information System
INTRAC Panalpina’s invoice tracking system.
Inventory A detailed list of goods located in a certain place or belonging to a specified object. Synonym: Stock List
Irrevocable Letter of Credit Letter
of Credit with a fixed expiry date that carries the irrevocable
obligation of the issuing bank to pay the exporter when all of the
terms and conditions of the Letter of Credit have been met.
ISO → International Organization for Standardization
Issuing Carrier Carrier whose Air Waybill is issued.
Item Separate article or unit.
Itinerary Route
of a means of transport, indicated by the names of the ports of call or
other locations, often including estimated arrival and departure dates. |