|
- 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
-
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 13:30:40 -0500 |
| |
