Shipping Glossary
In BondA 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 eventually will be paid |
In GateThe transaction or interchange that occurs at the time a container is received by a rail terminal or water port from another carrier |
Incentive RateA 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 normal volume |
INCOTERMSInternational Rules for the Interpretation of Trade Terms |
INCOTERMS1The recognized abbreviation for the International Chamber of Commerce Terms of Sale. These terms were last amended, effective July 1, 1990 |
Indemnity BondAn agreement to hold a carrier harmless with regard to a liability |
Independent ActionSetting a rate within a conference tariff that is the different from the rate (s) for the same items established by other Conference members |
Independent TariffAny body of rate tariffs that are not part of an agreement or conference system |
InducementPlacing a port on a vessel’s itinerary because the volume of cargo offered by that port justifies the cost of routing the vessel |
INFINDIA FEEDER ADDITIONAL |