Glossary of logistcs terms

Since all the terms are used in international business, the glossary is available in English language only.

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International Maritime Dangerous Goods Code
International Medical Guide for Ships
Import License
Document required and issued by some national governments authorizing the importation of goods into their individual countries.  
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
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 and 2000.  
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.  
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.  
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.  

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