A B C D E F G H I J K L M N O P Q R S T U V W Y Z
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Incoterms

A set of 11 international standard trade terms which last version is Incoterms 2010. Incoterms allows the parties to designate a point at which the costs and risks of transport are precisely divided between the seller and the buyer. Incoterms…

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Indemnity

To compensate for actual loss sustained. Many insurances policies and all bonds promise to indemnify the insured. Under such a contract, there can be no recovery until the insured had actually suffered a loss, at which time he or she…

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Indirect tax

A tax that is levied on expenditure such as a sales tax imposed at the retail level. See direct tax; excise tax; sales tax; VAT.

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Individual franchise contract

It is a collaboration contract between two legally independent companies: Franchisor and Franchisee. By virtue of this contract, the Franchisor grants the Franchisee the right to exclusive distribution of its products (or services) in uniformly equipped and fitted establishments, together…

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Inducement

When steamship lines publish in their schedules the name of a port and the words “by inducement” in parentheses, this means the vessel will call at the port if there is a sufficient amount of profitable cargo available and booked.

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