Terms used in shipping such as Infrequent Exporter,Import Certificate,IMPORT LICENSE,Import Permit,Import Rate,Import Substitution

 

Terms used in shipping such as Infrequent Exporter,Import Certificate,IMPORT LICENSE,Import Permit,Import Rate,Import Substitution etc.

 

 

This post explains about terms used in shipping such as Infrequent Exporter,Import Certificate,IMPORT LICENSE,Import Permit,Import Rate,Import Substitution,Import Surcharge,Immediate Transportation Entry,Industrial List etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

ICSU - International Council of Scientific Unions

 

ICTF - Intermodal Container Transfer Facility

 

ICTF (INTERMODAL CONTAINER TRANSFER FACILITY):An on-dock facility for moving containers from ship to rail or truck.

 

Terms used in shipping such as Infrequent Exporter,Import Certificate,IMPORT LICENSE,Import Permit,Import Rate,Import Substitution etcIDA - International Development Association

 

IDB - Inter-American Development Bank, International Data Base, Islamic Development Bank

 

Identity of Carrier Clause - Clause in a Bill of Lading which stipulates who the carrier is, that is, the part) responsible for the care of the cargo under the terms of the contract of carriage. This is normally the shipowner since the party issuing the Bill of Lading may have chartered the ship and may not be responsible for the navigation of the ship nor for the handling of the cargo. There are some countries in which this clause may not be upheld.

 

IDR - International Depository Receipt

 

IE - Infrequent Exporter

 

IE:Stands for "Immediate Exit." In the U.S., Customs IE Form is used when goods are brought into the U.S. and are to be immediately re-exported without being transported within the U.S.

 

IEC - International Electrotechnical Commission

 

IEC Code Number Notification : The Importer Exporter Code Number is issued by the policy circular no.15 which in turn is issued by the DGFT.

 

IEEPA - International Emergency Economic Powers Act

 

IEPG - Independent European Program Group

 

IESC - International Executive Service Corps

 

IFAC - Industry Functional Advisory Committee

 

IFAD - International Fund for Agricultural Development

 

IFC - International Finance Corporation

 

IFRB - International Frequency Registration Board

 

IFS - Industry Focused Seminar, In-Flight Survey

 

IFU - Industrialization Fund for Developing Countries

 

IGADD - Inter-Governmental Authority on Drought and Development

 

IGC - Interagency Group on Countertrade

 

Igloo - It is a container, which has been designed to occupy full main deck width for carrying aircraft.

 

IIC - Inter-American Investment Corporation

 

IICL –Institute of International Container Lessors:Group representing container leasing and chassis leasing companies

 

IIPA - International Intellectual Property Alliance

 

IIT - Instruments of International Traffic

 

IL - Industrial List

 

IL - International Labor Organization

 

Illegal dispatch:when a driver is instructed to drive over the amount of miles/time authorized by the DOT.

 

IM - International Maritime Organization

 

IMDG Code:International Maritime Dangerous Goods Code. The IMCO recommendations for the carriage of dangerous goods by sea.

 

IMF - International Monetary Fund

 

IMI - International Market Insight

 

IML - International Munitions List

 

Immediate Exportation:An entry that allows foreign merchandise arriving at one port to be exported from the same port without the payment of duty.

 

Immediate Transportation Entry - A customs form declaring goods for transportation by a bonded carrier from a port of entry to a bonded warehouse at an inland port, or another port of entry.

 

IMO:International Maritime Organization: Formerly known as the Inter-Governmental Maritime Consultative Organization (IMCO), was established in 1958 through the United Nations to coordinate international maritime safety and related practices.

 

Import Certificate - The import certificate is a means by which the government of the country of ultimate destination exercises legal control over the internal channeling of the commodities covered by the import certificate.

 

Import Certificate:The import certificate is a means by which the government of the country of ultimate destination exercises legal control over the internal channeling of the commodities covered by the import certificate .

 

IMPORT LICENSE:A certificate issued by countries exercising import controls that permits importation of the articles stated in the license. The issuance of such a permit frequently is collected 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 import documentation and transportation. Usually the merchant is specialized in one or two commodities.

 

Import Permit:Usually required for items that might affect the public health, morals, animal life, vegetation, etc. Examples include foodstuffs, feedstuffs, pharmaceuticals (human and veterinary), medical equipment, seeds, plants and various written material (including tapes, cassettes, movies, TV tapes or TV movies). In some countries an import permit is the same as an import license.

 

Import Quota - A means of restricting imports by the issuance of licenses to importers, assigning each a quota, after determination of the total amount of any commodity which is to be imported during a period. Import licenses may also specify the country from which the importer must purchase the goods.

 

Import Quota Auctioning - The process of auctioning the right to import specified quantities of quota-restricted goods.

 

Import Rate - A rate established specifically for application on import traffic and generally less, when so published, than a domestic rate.

 

Import Restrictions - Import restriction, applied by a country with an adverse trade balance (or for other reasons), reflect a desire to control the volume of goods coming into the country from other countries may include the imposition of tariffs or import quotas, restrictions on the amount of foreign currency available to cover imports, a requirement for import deposits, the imposition of import surcharges, or the prohibition of various categories of imports.

 

Import Substitution - A strategy which emphasizes the replacement of imports with domestically produced goods, rather than the production of goods for export, to encourage the development of domestic industry.

 

Import Surcharge - A charge on imports over and above regular tariffs or customs fees.

 

Import:A shipment brought in from a foreign country.

 

The above details describes about terms called in shipping such Infrequent Exporter,Import Certificate,IMPORT LICENSE,Import Permit,Import Rate,Import Substitution,Import Surcharge,Immediate Transportation Entry,Industrial List etc .These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such International Banking Act,Interbank Offered Rate, International Accounting Unit, Ice Clause

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