Shipping terms and Chartering glossary

Term Meaning
Igloos Pallets and containers used in air transportation; the igloo shape fits the internal wall contours of a narrow-body airplane.
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.
Incoterms Set of international rules compiled by the International Chamber of Commerce for interpretation of predominant terms used in foreign trade contracts. See Incoterms 2000.
Inland Bill of Lading The carriage contract used in transport from a shipping point overland to the exporter's international carrier location.
Inland Carrier An enterprise that offers overland service to or from a point of export.
Inspection Certificate A document certifying that merchandise (such as perishable goods) was in good condition immediately prior to shipment.
Insurance A system of protection against loss under which a number of parties agree to pay certain sums (premiums) for a guarantee that they will be compensated under certain conditions for specified loss and damage.
Insurance Certificate A document issued to the consignee to certify that insurance is provided to cover loss of or damage to the cargo while in transit.
Intermodal transportation The use of two or more transportation modes to transport freight; for example, rail to ship to truck.
Invoice A detailed statement showing goods sold or shipped and amounts for each. The invoice is prepared by the seller and acts as the document that the buyer will use to make payment.
Issuing Carrier The carrier whose name is printed on the bill of lading and with whom the contract of carriage exists.
ISPS Code The International Ship and Port Facility Code adopted by an IMO Diplomatic Conference in December 2002. Measure is designed to strengthen maritime security. (ISPS Code - Chapter XI-2 of SOLAS).