IATA ( The International Air Transport Association)
The International Air Transport Association, is the trade association for the world’s airlines, representing some 265 airlines worldwide.
ICD (Inland Clearance Depot)
An inland area that operates as an extension to a port and offers similar services as an approved Customs warehouse where cargo can be stored before being customs cleared.
The quantity of a commodity that can be imported at a lower rate of duty than would otherwise apply. Quotas apply to certain goods from particular countries.
INCO Terms ( International Commercial Terms)
The Inco terms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods.
Insurance – Marine Cargo Insurance
Marine Cargo Insurance cover loss or damage to goods in transit, subject to the Institute Cargo Clauses. These clauses provide standard comprehensive marine insurance cover. The term “All Risks” broadly speaking means any accidental event which is external to the cargo. War and Strikes (including Terrorism) subject to the application of the appropriate Institute Clauses providing for War and Strikes risks. General Average contributions and salvage cover.
IPR (Inward Processing Relief)
A relief from duty and VAT on goods being imported from outside the EU only to be process. When the process is completed the goods will be exported to countries outside the EU.
IVA (Individual Vehicle Approval)
Previously known as Single Vehicle Approval (SVA). A legal requirement which is designed to ensure a vehicle complies with the current UK regulations for the use on British roads. All cars and vehicles manufactured within the preceding 10 years are required to undergo this process and in some cases modifications of the car or vehicle is required.