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In lieu of weighting. In some charters for bulk commodities, such as for the carriage of coal, freight can be payable either on the quantity actually delivered by the ship, as ascertained by weighting, or by draft surveys, or on the quantity stated on a bill of lading as having been shipped less an agreed percentage (commonly 2 per cent) at receivers' option.

INTERCO 80. This is the codename given to the Tanker Contract of Affreightment (CoA) issued in October 1980 by INTERTANKO, the International Association of Independent Tanker Owners, based in Oslo, Norway. INTERCO is also "adopted" by BIMCO.


Indemnity: The person suffering from loss must be restored to the financial position in which he was just before the loss. In principle, no “profit” should be made.

Incorporation. When certain phrases, terms or words in one document are merged into a contract the former are said to be "incorporated" into the latter to make one complete "whole".

Intermodalism. This word is particularly related to the provision of transport services where more than one mode of transport is used. Even in the early days of transport, the carriage of goods may be considered to have been intermodal, e.g., from the factory to the port and then from the discharging port to the consumer’s premises, but the cargo owners had to make separate contracts with carriers on each mode.

Incorrect date (Fraud and bills of lading). A modern case may help to introduce the problems that can arise and identify some of the important issues. A sale contract requires the cargo to be loaded and bills of lading to be dated no later than 15 July.

I.M.O.The International Maritime Organisation, a specialised agency of the United Nations, deals mainly with the safety of navigation and the prevention of pollution of the marine environment. The influence of the I.M.O on chartering is not very large, except with references to the clauses in charterparties requiring compliance by ships with anti-pollution measures.


ISO Standards. The “International Organisation for Standardisation”, based in Geneva, Switzerland, establishes international standards in nearly all fields of technology such as shipbuilding, road vehicles, aircraft, documentation, packaging, etc.

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