Moving Dictionary : i Terms

i Dictionary Terms

Immediate Transportation Entry

Allows the cargo to be moved from the port or airport of entry to an inland destination via a bonded carrier. Customs clearance and payment of duty, if applicable, will be accomplished at the inland point.

Import

To bring goods in from a foreign country.

Import Permit

A special permit or license issued by a government agency before various items can be imported into that country. May vary with product and/or country.

Impound Account

See Escrow Account.

Improvements

Renovations and structures added to a home or land like a fence, driveway, curb, sidewalk and sewer that increase the use, value and marketability of the home or land. Improvements on land are usually privately owned structures. Improvements to land are usually publicly owned, but aid in the development of the land.

IN (Abbr)

Prefix for an Indiana intrastate booking or registration.

In Bond

A term referring to the status of merchandise admitted provisionally into a country without payment of duty or permanent release by the U.S. Customs Service, for placement into storage or for transport to another point where permanent release and assessment of duties will be accomplished, or where the goods will be exported from the U.S. All additional charges are assessed by the customer.

INCL (Abbr)

Inclusive.

Incidentals

These are minor expenses like laundry or telephone calls that occur during a temporary relocation.

Incline Dolly

Equipment used to move goods on or off stairs. It often is used with a stairmobile. See Stairmobile.

Income Approach

Estimating income-producing property value by means of capitalization of net operating income. This appraisal approach is useful in estimating the value of apartments, offices, shopping centers and other investment properties. Also called the Income Capitalization Approach.

Income Capitalization Approach

See Income Approach.

Indemnification

A promise to reimburse a person for damage or loss.

Independent Contractor

See Owner-Operator.

Index

Used to measure periodic interest rate fluctuations for an adjustable rate mortgage.

Individual Shipper

The individual requesting movement of a shipment and paying the transportation charges.

INFO (Abbr)

Information.

Info Claim File

A claim that has been received from a customer with no claimed amounts.

Informal Entry

A customs entry applicable to household goods and professional tools of the trade, relative to an individual's own transfer to the U.S., whether or not such articles are subject to duty.

Information Sheet

See Fly Sheet.

Ingress

The right to enter a tract of land. See Egress, Access and Easement.

Inherent Vice

An existing condition of an article that may cause damage to that article if transported.

Inland Bill of Lading

Used to document transportation of goods between two points within the U.S., usually between an inland point and a port or airport. See Air Waybill and Bill of Lading.

INS (Abbr)

Insurance.

Installment Contract

A contract between the buyer and seller whereby the buyer pays for the property in installments for a period of time, but the seller holds the title until the final payment is made.

Installment Note

See Note.

Installment Sale

A shorter fixed-term, lower-than-conventional, fixed-rate mortgage offered by the seller to the buyer for a specified annual payment creating lower monthly payments and a balloon payment at the end of the term.

Instrument

A legal written document such as a grant, deed or contract.

Insurance Binder

A temporary title coverage that must be replaced by a permanent policy.

Interchange

The transportation of one carrier's equipment by another carrier. See Interlining.

Interchange Agreement

An agreement between two carriers allowing for the equipment of one carrier to be transported or used by the other carrier, outlining responsibilities for liability of the equipment and any per diem charges.

Interest

A charge for borrowed money. Interest is a percentage of the principal.

Interest Rate

A charge, expressed in a percentage, for use of a lender's money.

Interim Living Allowance

See Temporary Living Allowance.

Interlining

The transfer of a shipment from one point to another between two different carriers. See Interchange.

Intermodal

Freight shifted from one mode of transportation to another (road to rail, rail to ocean, road to air), with the freight generally in shipping containers and meeting certain criteria previously agreed upon among the carriers involved.

Internal Packaging

The supporting of goods inside a package to protect against damage during transportation.

International Adjustment Allowance

See Foreign Service Premium.

International Air Transport Association (IATA)

An International Air Carrier's organization that focuses on matters of rates, handling documentation procedure, etc.

International Assignment Premium

See Foreign Service Premium.

Interstate Move

A shipment moving between two or more states.

Intrastate Move

A shipment moving within only one state.

Inventory (INV)

A listing of all goods contained in a shipment and their condition. It is used as a condition report and as a receipt of acceptance of the goods by the customer. Also called Household Goods Descriptive Inventory.

Invoice

The bill presented to the customer for payment of charges.

Involuntary Lien

A lien that is imposed against a property by law without consent of the owner.

Irregular Route Carrier

Any carrier providing non-scheduled service over irregular routes.

Irrevocable Consent

An agreement incapable of being changed or revoked.

Item

Separate provisions in a tariff.