Business in China | Import and Export Glossary | Shipping Terms - Export Glossary with incoterms for your business in China

Import and Export Glossary with Letter I

I.C.T.F. : Intermodal Container Transfer Facility, an on-dock facility for moving containers from ship to rail or truck.

I.P.A. : Including Particular Average

IATA : International Air Transport Association.

ICAO : International Civil Aviation Organization. A specialized agency of the United Nations, with headquarters in Montreal. Its task is to promote general development of civil aviation (e.g. aircraft design and operation, safety procedures, contractual agreements).

ICC : International Chamber of Commerce

IFF : Institute of Freight Forwarders

Igloo : Container designed to occupy full main deck width of carrying aircraft.

Import License : A certificate, issued by countries exercising import controls, that permits importation of the articles stated in the license. The issuance of such a permit frequently is connected with the release of foreign exchange needed to pay for the shipment for which the import license has been requested.

In-Bond : A customs program for inland ports that provide for cargo arriving at a seaport to be shipped under a Customs bond to a more conveniently located inland port where the entry documents have been filed. Customs clears the shipment there, and the cargo is trucked to its destination, which normally is close to the inland port.

Incoterms : A codification of terms used in foreign trade contracts that is maintained by the International Chamber of Commerce.

Incremental Cost to Export : The 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.

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

Inducement : Some steamship lines publish in their schedules the name of a port and the words by inducement in parentheses. This means the vessel will call at the port if there is sufficient amount of profitable cargo available and booked.

Individually Validated Export License : A required document issued by the U.S. 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. Compare General export license.

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. Compare Air waybill, Ocean bill of lading, and through bill of lading.

Inland Carrier : A transportation line which hauls export or import traffic between ports and inland points.

Inspection Certificate : A document certifying that merchandise (such as perishable goods) was in goods condition immediately prior to shipment.

Integrated Carrier : Forwarder which uses own aircraft, whether owned or leased, rather than scheduled airlines.

Intellectual Property : Ownership of the legal rights to possess, use or dispose of products created by human ingenuity, including patents, trademarks and copyrights.

Interline : Mutual agreement between airlines to link their route network.

Intermeddle : Referring to the capacity to go from ship to train to truck, or the like, the adjective generally refers to containerized shipping or the capacity to handle same.

International Freight Forwarder : See Freight forwarder.

Irrevocable Letter of Credit : A letter of credit with a fixed expiration 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 Standards Organization also referred to as the International Organizational for Standardization.