Terms used in shipping such as Interchange Points, Interchange , Interclub Agreement , INTERLINE PRICE,Interline Shipping etc.
This post explains about terms used in shipping such Interchange Points, Interchange , Interclub Agreement ,INTERLINE PRICE,Interline Shipping,Intermediate Consignee , Intermodal,Intermodalism,Intermodal 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
Interbank Offered Rate - IBOR is the rate of interest at which banks lend to other prime banks. Terms are established for the length of loan and individual foreign currencies. A number of financial centers offer an IBOR, including: Abu Dhabi (ADIBOR), Bahrain (BIBOR), Brussels (BRIBOR), Hong Kong (HKIBOR), London (LIBOR), Luxembourg (LUXIBOR), Madrid (MIBOR), Paris (PIBOR), Saudi Arabia (SAIBOR), Singapore (SIBOR), and Zurich (ZIBOR). See: London Interbank Offered Rate.
Interchange Agreement:Contract which governs the interchange of intermodal equipment between ocean carriers, railroads, equipment leasing companies and intermodal trucking companies.
Interchange of Interline - The transfer of freight from one carrier to another.
Interchange Points:A terminal at which freight in the course of transportation is delivered by one transportation line to another.
interchange: Point of entry/exit for trucks delivering and picking up containerized cargo. Point where pickups and deposits of containers in storage area or yard are assigned.
Interchange:Transfer of a container from one party to another.
Interclub Agreement - Agreement between a number of major protection and indemnity clubs on the method of apportioning liability for loss and damage to cargo carried in ships chartered under a New York Produce Exchange Charter-Party.
Intercoastal:Water service between two coasts; in the U.S., this usually refers to water service between the Atlantic and Pacific or Gulf Coasts.
Interest Rate Swaps - See: Swaps.
Inter-Governmental Authority on Drought and Development - The IGADD coordinates efforts in its members' region to build food security, stop desertification, and reclaim arid zones for food production. The Authority was formed in 1986; headquarters are based in Djibouti; members include: Djibouti, Ethiopia, Kenya, Somalia, the Sudan, and Uganda. Financing stems primarily from Djibouti and Ethiopia.
Interim Voyage - Voyage undertaken by a ship between the times she is chartered for a specific voyage and the time she performs it.
Interline Agreement - It is an agreement between two or more airlines cooperating for the carriage over particular routes.
Interline Carriage - It is a term for the carriage over the routes of more than one parties of interlines agreement.
Interline Freight:Freight moving from origin to destination over the Freight lines of two or more transportation carriers.
INTERLINE HAUL:Move involving more than one rail carrier
INTERLINE PRICE:The price published for an origin/destination pair that uses more than one carrier and results in one bill for the whole move; see “through price.”
Interline Shipment:Shipment moving from origin to destination via two or more carriers. Occurs frequently in rail transportation: for example, each rail container moving from Atlanta to Los Angeles is moved interline, using for example CSX and Union Pacific with an interline junction in New Orleans.
Interline Shipping - It is a term used for the movement of a single shipment on more than one carriers.
INTERLINE:A mutual agreement between airlines to link their route network.
Interline:two or more carriers work together to haul shipments to a destination.
Intermediate Consignee - An intermediate consignee is the bank, forwarding agent, or other intermediary (if any) that acts in a foreign country as an agent for the exporter, the purchaser, or the ultimate consignee, for the purpose of effecting delivery of the export to the ultimate consignee.
Intermediate Credit Guarantee Program - See: Export Credit Guarantee Programs.
Intermediate Point:A point located en route between two other points.
Intermodal a system whereby standard :Sized cargo containers can be moved seamlessly between different 'modes' of transport, typically specially adapted ships known as containerships, barges, trucks and trains. Because the cargo does not need to be unloaded from the container every time it is moved from one mode to the other it is a very efficient and fast system of transportation.
Intermodal Container Transfer Facility - ICTF is a site where cargo is transferred from one form of transit to another, such as rail to ship.
intermodal shipment: When more than one mode of transportation is used to ship cargo from origin to destination, it is called intermodal transportation. For example, boxes of hot sauce from Louisiana are stuffed into metal boxes called containers at the factory. That container is put onto a truck chassis (or a railroad flat car) and moved to a port. There the container is lifted off the vehicle and lifted onto a ship. At the receiving port, the process is reversed. Intermodal transportation uses few laborers and speeds up the delivery time.
Intermodal Tariff - Tariff or freight rates of a shipping line or line conference covering inland as well as ocean legs.
Intermodal Transport:Moving ocean freight containers by various transportation modes. The fact that the containers are of the same size and have common handling characteristics permits them to be transferred from truck to railroad to air carrier to ocean carrier.
Intermodal Transportation - When freight is shipped using two or more modes of transportation. This typically refers to truck-rail-truck shipments.
INTERMODAL:(1) This refers 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 the same. (2) Transport by more than one transportation mode, usually truck and rail
Intermodal:Movement of goods by more than one mode of transport, ie. airplane, truck, railroad and ship.
Intermodal:Transportation that uses a specialized container that can be transferred from the vehicle of one mode to the vehicle of another; a single freight bill is used for the shipment.Example: Ocean shipping containers which can be hauled by trucks on chassis, railcars, ocean vessels, and barges. Also: UPS line-haul vans (these vans can be stacked onto railcars for long distance moves).
Intermodal:Used to denote movements of cargo containers interchangeably between transport modes, i.e., motor, water, and air carriers, and where the equipment is compatible within the multiple systems.
Intermodalism - a system whereby standard-sized cargo containers can be moved seamlessly between different 'modes' of transport, typically specially adapted ships known as containerships, barges, trucks and trains. Because the cargo does not need to be unloaded from the container every time it is moved from one mode to the other it is a very efficient and fast system of transportation.
International Accounting Unit - NATO infrastructure projects are usually denominated in International Accounting Units. The IAU is a unit of measure based on the exchange rates of the 16 NATO member countries and is reevaluated every six months.
International Accreditation Forum - The IAF, created in January 1993, is a group of international accreditation bodies which has joined together to promotion international recognition of accreditation for quality systems (ISO 9000) registrars. Signatories include representatives of accrediting bodies in Australia, Canada, Japan, Mexico, the Netherlands, New Zealand, and the United States.
International Agreements - An international agreement is governed by international law; the term refers to a broad classification of legally binding arrangements between states. The arrangements include: treaties, conventions, protocols, annexes, accords, and memoranda of understanding. Other common titles include notes, pact, declaration, statute, constitution and process-verbal. The title is not a controlling factor in making distinctions among arrangements. Some titles are not used consistently; and titles are often used as synonyms, with subtlety in differentiation and resulting in an inability to apply certitude in definition. In this context, the following general characteristics apply: - Treaties are international agreements and are equivalent to conventions. The Vienna Convention on the Law on Treaties defines a treaty as "an international agreement concluded between States in written form and governed by international law, whether embodied in a single instrument or in two or more related instruments and whatever its particular designation." In its restricted sense in the United States, a treaty denotes an international agreement made by the President with the advice and consent of the Senate in accordance with Article II, section 2 of the Constitution. During a year, the U.S. may be a signatory to approximately 400 international agreements; only about a dozen are treaties. Under U.S. law a treaty (or other international agreement, however designated) becomes the law of the land and is binding on federal, state and local government. This is not always the case in other nations which may require legislative action before a treaty takes the same effect as domestic law. The term "plurilateral" is sometimes used to differentiate between a treaty embracing a restricted number of states in contrast with "multilateral" as a reference to a treaty which is open to all nations. - Conventions are essentially the same as treaties. In the 1980s and beyond, the term convention has been used more in connection with multilateral, than bilateral, arrangements. Depending on the nature of the convention, the President may or may not consult the Senate. - Protocols may be any sort of international agreement. A protocol can stand alone or, more generally, it may be a supplementary agreement, or an amendment, of some sort. - Annexes are subsidiary agreements which are additional to a previously established arrangement. However, there is flexibility; the General Agreement on Tariffs and Trade (GATT) uses the term "annex" to indicate a free-standing agreement. - Accords are further from treaties than conventions. If there is any distinction to be made, an accord may suggest a non-binding agreement; there are exceptions. - Memoranda of Understanding are very detailed documents devised by Executive Branch agencies (such as aviation or major fishery agreements). An MOU may be less significant; it takes into account U.S. practice and the requirements of the other government. When a treaty or an executive agreement is first published by the United States, it is assigned a TIAS number and published in slip form in the Treaties and other International Acts Series. TIAS, published by the Department of State, is a series of individual pamphlets.
The above details describes about terms called in shipping such as Interchange Points, Interchange , Interclub Agreement ,INTERLINE PRICE,Interline Shipping,Intermediate Consignee , Intermodal,Intermodalism,Intermodal 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 as Insulated Container,Integrated Carriers,Intaken Weight , Insurance,Inter Arr,Insurance Certificate
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