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Glossary of Trade Terms

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I
IATA - International Air Transport Association.

ICAO (International Civil Aviation Organization) - A specialized agency of the United Nations headquartered in Montreal. It promotes general development of civil aviation such as aircraft design and operation, safety procedures, and contractual agreements.

ICC (International Chamber of Commerce) - A non-governmental organization serving as a policy advocate on world business.

Igloo - A contoured structural container designed for use in main-deck carriage on narrow body aircraft.

Import License - A certificate issued by countries exercising import controls that permits importation of the articles stated in the license and often authorizes and/or releases the funds in payment of the importation.

In-Bond - A term use to describe cargo that has not been cleared by Customs to enter the commerce of a country.

INCOTERMS - The set of international standards for the uniform interpretation of common contract clauses in international trade. INCOTERMS 2000, formulated in concert with many international entities, comprises the latest revisions and should now be used exclusively.

Inducement - When 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 a sufficient amount of profitable cargo available and booked.

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

Inspection Certificate - A document certifying that merchandise was in good condition, or in accordance with certain specifications immediately prior to shipment.

Integrated Carrier - A forwarder that uses its own aircraft, whether owned or leased, rather than scheduled airlines.

Interline - A mutual agreement between airlines to link their route network.

Intermodal - This refers to the capacity to go from ship to train to truck or the like. The term generally refers to containerized shipping or the capacity to handle containers across different modes of transport.

ISO 9000 - A series of voluntary international quality standards.
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