Terms Beginning with I

IATA: International Air Transport Association.

ICC: International Chamber of Commerce

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

IFF: Institute of Freight Forwarders.

IMPORT LICENSE: A certificate, issued by countries exercising import controls which 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.

IMPORT MERCHANT: A merchant who buys overseas for his own account for the purpose of later resale, handling all details of the import documentation and transportation. Usually the merchant is specialized in one or two commodities.

IMPORT RATE: A domestic surface rate established specifically for application on import traffic and generally less when so published than a domestic rate.

IMPORT DISTRIBUTER: A merchant who imports merchandise, usually on an exclusive territory arrangement, maintains an inventory and through a sales staff, sells to retailers.

IN-BOND: A Customs program that provides for cargo arriving at a Customs frontier to be shipped under a Customs bond to a more conveniently located inland point where the entry documents are normally filed.

INDEPENDENT ACTION: A move by whereby a member of a shipping conference elects to depart from the specific service rates set forth by the conference.

INDIRECT EXPORTING: Sale by the exporter to the buyer through a domestically located intermediary.

INDUCEMENT: Some steamship lines publish in their schedules showing the name of a port and the words “by inducement” in parentheses. This means the vessel will call at said port only if they receive sufficient cargo.

INLAND CARRIER: A company that moves export or import traffic between ports and inland points or multiple inland points.

I.A.P.: Including particular average.

INSPECTION CERTIFICATE: A document certifying that merchandise was in good condition immediately prior to shipment.

INTEGRATED CARRIER: Forwarder which uses its own aircraft, whether owned or leased, rather than scheduled airlines.

INTERMODAL: 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 it.


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