Logistic Terms - I

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• 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. > 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, 2000 and 2010.
• 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. 2The 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 > 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.