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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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TERM COLORS: Black = Transport - -  Blue = Insurance - - Green = Chat/Email

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

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- N -

TERM DEFINITION
NADT Not A Darn Thing
Named Insured (Ins) Any person, firm, or corporation, or any member thereof, specifically designated by name as insured(s) in a policy as distinguished from  the others who, though unnamed, are protected under some circumstances.
Named Perils Policy Any marine policy limiting coverage to perils specifically listed in the policy; opposed to All Risks policy. Institute Clauses C is a "Named Perils" cover. See "All Risks."
Narrow Body An airliner with a single aisle such as the A319 or B737
Nautical Mile Distance of one minute of longitude at the equator, approximately 6,076.115. The metric equivalent is 1852.
National Flag The flag carried by a ship to show her nationality
National Industrial Transportation League (NITL) An association representing shippers' and receivers' interests in matters of transportation policy and regulation.
Navigation The act of determining position, location and course to the destination of an aircraft or a vessel.
NCB National Cargo Bureau
N.C.I.T.D. National Committee on International Trade Documentation.
ND Non-Delivery
NEC Abbreviation for "Not Elsewhere Classified."
Negligence - Imprudent action or omission which may cause injury, damage or loss
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Failure to use the degree of care expected from a reasonable and prudent person.
Negotiable Quality belonging to a document of being able to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document. Checks, drafts, promissory notes, bonds, stock certificates, bills of lading, and warehouse receipts are examples of documents often issued in negotiable form.
Negotiable B/L Original Bill of Lading endorsed by shipper that is used for negotiating documents with bank.
Negotiable Instruments A document of title (such as a draft, promissory note, check, or bill of lading) transferable from one person to another in good faith for a consideration. Non-negotiable bills of lading are known as "straight consignment." Negotiable bills are known as "order b/l's."
Negotiate To "buy" documents representing ownership of money, goods, or other items of value. The seller is also said to "negotiate to" the buyer. Unless otherwise agreed between the buyer and seller (e.g., by negotiating "without recourse"), the seller continues to be fully responsible for the enforceability of the documents. A bank that negotiates documents under a letter of credit advances funds to the presenter before submitting the documents to the issuing bank for payment.
Negotiating Bank payment. The name derives from the fact that the negotiating bank is normally authorized by the issuing bank to negotiate documents, but it may or may not choose actually to do so. Furthermore, recognizing that this bank may be authorized to pay or accept drafts, rather than negotiate them, UCP500 now uses the term "nominated bank" rather than "negotiating bank." Unless otherwise instructed, negotiating banks in North America generally examine the documents for discrepancies before forwarding them to the issuing bank, but this is properly viewed as a service separate from negotiating and is not even necessary when negotiating with recourse
Neobulk Shipments consisting entirely of units of a single commodity, such as cars, lumber, or scrap metal.
NES Abbreviation for "Not Elsewhere Specified."
Nested Articles packed so that one rests partially or entirely within another, thereby reducing the cubic-foot displacement.
Net Manifest A manifest containing all freight details including negotiated disbursements.
Net Tare Weight The weight of an empty cargo-carrying piece of equipment plus any fixtures permanently attached.
Net Tonnage (NT) (0.2+0.02 log10(Vc)) Vc (4d/3D)2, for passenger ships the following formula is added: 1.25 (GT+10000)/10000 (N1+(N2/10)), where Vc is the volume of cargo holds, D is the distance between ship's bottom and the uppermost deck, d is the draught N1 is the number of cabin passengers, and N2 is the number of deck passengers.) "Ton" is figured as an 100 cubic foot ton.
Net Weight Weight of the goods alone without any immediate wrappings, e.g., the weight of the contents of a tin can without the weight of the can.
Neutral Body An organization established by the members of an ocean conference acts as a self-policing force with broad authority to investigate tariff violations, including authority to scrutinize all documents kept by the carriers and their personnel. Violations are reported to the membership and significant penalties are assessed.
NFG No Good
NFW No Feasible Way
NG No Good
NITL See "National Industrial Transportation League"
N.M.F.C. National Motor Freight Classification
NMU National Maritime Union
NOI Abbreviation for "Not Otherwise Indexed."
NOIBN Abbreviation for "Not Otherwise Indexed By Name."
No Location (No Loc) A received item for which the warehouse has no previously established storage slot.
No Risk After Discharge (NRAD) Insurance ceases upon discharge from Vessel or Aircraft;
NOTE: WNRAD/NRAD can mean insurance ceases once goods are discharged by the port authorities. Check your wordings to be sure.
Node A fixed point in a firm's logistics system where goods come to rest; includes plants, warehouses, supply sources, and markets.
Nomenclature of the Customs Cooperation Council The Customs tariff used by most countries worldwide. It was formerly known as the Brussels Tariff Nomenclature and is the basis of the commodity coding system known as the Harmonized System.
Non-Cancelable Policy (Ins) A policy which the insured has the right to continue in force by the timely payment of premiums set forth in the policy, during which period the insurer has no right to make unilaterally any change in any provision of the policy while the policy is in force. (See also "Guaranteed Renewable Policy".)
Non-Certificated Carrier A for-hire air carrier that is exempt from economic regulation.
Non-Conference Line (Carrier) A shipping line which operates on a route served by a liner conference but which is not a member of that conference.
Non-Cumulative Revolving Letter of Credit Revolving letter of credit that does not permit the seller to carry over any amounts not drawn upon in previous periods.
Non-Delivery (ND) Failure to deliver all or part of a shipment
Non-Dumping Certificate Required by some countries for protection against the dumping of certain types of merchandise or products.
Non-Negotiable B/L Copy of original Bill of Lading which cannot be negotiated with bank.
Non-Reversible (Detention). If loading completed sooner than expected, then saved days will not be added to discharge time allowed.
Non-Vessel Operating Common Carrier (NVOCC) A cargo consolidator in ocean trades who will buy space from a carrier and sub-sell it to smaller shippers. The NVOCC issues bills of lading, publishes tariffs and otherwise conducts itself as an ocean common carrier, except that it will not provide the actual ocean or intermodal service.
NOR Notice of Readiness. (When the ship is ready to load.)
Normal Charge The specified general cargo rate without any quantity discount (aircargo).
Normal General Cargo Rate The under 45 kgs rate or, if no under 45 kgs rate exists, the under 100 kgs rate (aircargo).
Norske Veritas Norwegian classification society
NOS See "Not Otherwise Specified."
Nose Front of a container or trailer - opposite the tail.
No-show Cargo which has been booked but does not arrive in time to be loaded before the vessel sails.  See also "Windy Booking."
Notice of Loss (Ins) Written notice of a loss to the insurance company as outlined in the conditions of the insurance policy.
Notice Of Readiness (NOR) - Written document or telex issued by the master of a vessel to the charterers advising them the moment when a vessel is ready to load or discharge.
- Document advising a consignee or his agent that cargo has arrived and is ready for delivery.
Not Otherwise Specified / Not Elsewhere Specified NOS/NES This term often appears in ocean or airfreight tariffs respectively. If no rate for the specific commodity shipped appears in the tariff, then a general class rate (for example: printed matter NES) will apply. Such rates usually are higher than rates for specific commodities.
Notify Addresse Address of the party other than the consignee to be advised of the arrival of the goods.
Notify Party - Party to be notified on arrival of goods
- Addresse of party other than Consignee to be advised of arrival of goods
N.P.C.F.B. North Pacific Coast Freight Bureau.
NP or N/P No Problem
NRAD No Risk After Discharge. Insurance ceases upon discharge from Vessel or Aircraft;
NOTE: WNRAD/NRAD can mean insurance ceases once goods are discharged by the port authorities. Check your wordings to be sure.
NRN No Response Necessary
NRT - Net Restricted Tonnage
- Net Registered Tonnage - This tonnage is frequently shown on ship registration papers; it represents the volumetric area available for cargo at 100 cubic feet = 1 ton. It often is used by port and canal authorities as a basis for charges.
NVO See "Non-Vessel Operating Common Carrier"
NVOCC See "Non-Vessel Operating Common Carrier"
NYPE New York Produce Exchange
   
 
DISCLAIMER:   These terms and definitions have been gathered from many sources public and private. This list is designed to serve as a reference. No warranty for the accuracy is stated nor implied.

HOME

Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
To jump to a section, click the letter. (Opens in new browser window)
Some letters have several hundred entries and may take some time to download
TERM COLORS: Black = Transport - -  Blue = Insurance - - Green = Chat/Email

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

5 Steps + 2 Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O - Warehouse - Business Insurance --

-- We have Logistics AllCovered --

These terms, abbreviations and descriptions have been gathered from many sources
online and in print. No warranty for their accuracy is stated nor implied.

 

Last Updated:
Monday, 08 June 2009 14:30:40 -0400

 

 

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Ocean Marine Division; Allen Insurance Group
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