IC-DISC	Interest Charge domestic International Sales Corporation
ICPO	Irrevocable Corporate Purchase Order
IFB	Invitation For Bid
Import License	A document required and issued by some national governments authorizing the importation of goods into their individual countries.
Import Tariff	A tax on imported goods by foreign governments.
INCO Terms	The International Chamber of Commerce sets out the international rules for the interpretation of common trade terms, such as FOB.
In Bond	A 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 trans-shipment to another point, where duties will eventually be imposed.
Incorporation	This is the act of forming a company and giving it a separate legal existence, and is usually associated with gaining limited liability.
Indemnity	Liability of an insurer for loss under a policy.
Indirect Damage	Damage caused by an insured peril but not proximately caused thereby.
Individually Validated Export License	A required document issued by the U.S. 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. Compare General Export License.
Inherent Vice	A quality in a cargo that gives rise to a loss, generally, without any other peril operating. The perishable nature of fruit is an example.
In Personam	Legal action against a person.
In Rem	Legal action against an object or the owners thereof (e.g. action naming the ship).
Inland Bill of Lading	A bill of lading used in transporting goods overland to the exporter's international carrier. Although a through bill of lading can sometimes be used, it is usually necessary to prepare both an inland bill of lading and an ocean bill of lading for export shipments. Compare Air Waybill, Ocean Bill of Lading, and Through Bill of Lading.
Intellectual Property Rights (IPR)	In general, the right to possess or control the use of intellectual property, such as trademarks, copyrights, patents, trade secrets, and semiconductor mask works.
International Organization for Standardization (ISO)	This is a non-governmental, world-wide federation of national standards bodies from some 100 countries, one per country, which was established in 1947 to "promote the development of standardization and related activities in the world with a view to facilitating the international exchange of goods and services, and to developing cooperation in the spheres of intellectual, scientific, technological and economic activity."
Institute Cargo Clauses	Standard insurance conditions for policies covering goods in transit overseas.
Institute of London Underwriters	An association representing company underwriters and interest in the London insurance market.
Institute Time Clauses	Standard insurance conditions for policies covering ships for a period of time.
Institute Warranties	A set of express warranties for use in policies covering ships. Mainly these are navigational warranties restricting the ship's navigational areas. Breach of the warranties is held covered subject to payment of an additional premium and change of policy conditions, if required by the underwriters.
Insurable Interest	The interest one has in relation to property exposed to peril whereby one may lose financially by the loss of, or damage to, such property or may incur a liability in respect thereof. A person who effects a marine insurance contract without an insurable interest or a reasonable expectation of acquiring such interest is guilty of an offence under English law.
Insurance Certificate	Supplied by an exporter or freight forwarder to prove the goods to be exported are insured for transport.
Insured Value	The value of property as expressed in a policy of insurance.
Interline Service	A routing from origin to destination involving more than one carrier.
Intermodal	More than one mode of transportation is used, e.g., truck and steamship, in one shipment, and one bill of lading is issued for the entire shipment.
International Freight Forwarder	See Freight Forwarder.
Invoice	A document setting out in detail the goods consigned, marks and numbers, cost, any charges, and name of consignee.
Inward Charges	Pilotage and other expenses incurred on entering port.
Irrespective of Percentage	When shown in a policy this means that particular average is not subject to the franchise expressed in the standard S.G. policy form.
Irrevocable Letter of Credit	A letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee. Compare Revocable Letter of Credit.
IT (In-transit) Entry	A customs entry permitting goods to move between ports under bond.
Jason Clause	A clause in a contract of affreightment relating to liability of the shipowner under the U.S. Harter Act in disputes concerning general average.
Jerque Note	A document given to the master by the Customs after the inward cargo is discharged and the vessel has been rummaged.
Jetsam	Cargo or goods that sink when jettisoned. The term applies also to such goods when washed ashore.
Jettison	The act of throwing cargo and stores overboard in order to save the vessel.
JEXIM	Japan Export Import Bank
Joint Cargo Committee	A group of London company underwriters and Lloyd's underwriters who meet to discuss matters relating to cargo insurance and to make recommendations to the cargo insurance market.
Joint Hull Committee	A group of London company underwriters and Lloyd 's underwriters who meet to discuss matters relating to hull insurance and to make recommendations to the hull insurance market.
Joint Technical Committee 1 (JTC1)	A technical committee set up jointly by ISO and IEC to oversee all international standardization activities in the field of information technology.
Joint Venture	An international business collaboration between foreign interests and private parties from the host country (or the host government in some cases) in which two or more parties establish a new business enterprise to which each contributes, and in which ownership and control are shared.
K.D. (Knocked Down)	An abbreviation meaning the article described is supplied unassembled.
Knocked Down Condition	Goods (e.g. vehicles) dismantled for transit.

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