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I/A
Abbreviation for "Independent Action." The right of a conference member to publish a rate of tariff rule that departs from the Agreement's common rate or rule.
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ICC
Abbreviation for (1) "Interstate Commerce Commission," (2) "International Chamber of Commerce."
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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.
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Immediate Exportation
An entry that allows foreign merchandise arriving at one port to be exported from the same port without the payment of duty.
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In-Transit Entry (I.T.)
Allows foreign merchandise arriving at one port to be transported in bond to another port, where a superseding entry is filed.
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In Bond
Cargo moving under Customs control where duty has not yet been paid.
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In Gate
The transaction or interchange that occurs at the time a container is received by a rail terminal or water port from another carrier.
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Incentive Rate
A 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 the normal volume.
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Installment Shipments
Successive shipments are permitted under letters of credit. Usually they must take place within a given period of time.
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Interchange Point
A location where one carrier delivers freight to another carrier.
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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.
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Inward Foreign Manifest (IFM)
A complete listing of all cargo entering the country of discharge. Required at all world ports and is the primary source of cargo control, against which duty is assessed by the receiving country.
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Irrevocable Letter of Credit
Letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee and which cannot be revoked without joint agreement of both the buyer and the seller.
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Issuing Bank
Bank that opens a straight or negotiable letter of credit and assumes the obligation to pay the bank or beneficiary if the documents presented are in accordance with the terms of the letter of credit.
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I.T.
Abbreviation for "Immediate Transport." The document (prepared by the carrier) allows shipment to proceed from the port of entry in the U.S. to Customs clearing at the destination. The shipment clears Customs at its final destination. Also called an "In-Transit" Entry.
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