Terms used in shipping such as Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE

 

Terms used in shipping such as Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE etc.

 

 

This post explains about terms used in shipping such as National Treatment,Nautical Mile,Negotiating Group ,Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

Terms used in shipping

 

National Security Override - In some cases, despite a finding of foreign availability of a controlled commodity, control is maintained over exporting the commodity because it is deemed a national security sensitive item. The term national security override is used to describe this circumstance. The term has also been used in other contexts. For example, under a November 16, 1990 directive, the President tasked the interagency control groups to move as many dual use items from the State Department's International Munitions List to the Commerce Department's Commerce Control List. In some circumstances, a national security override is applied to prevent transfer of a particular item.

 

National Tourism Policy Act - Legislation, passed in 1981, that created the U.S. Travel and Tourism Administration and required the establishment of the Tourism Policy Council and the Travel and Tourism Advisory Board.

 

Terms used in shipping such as Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE etcNational Trade Estimates Report - An annual report by USTR that identifies significant foreign barriers to and distortions of trade.

 

National Treatment - National treatment affords individuals and firms of foreign countries the same competitive opportunities, including market access, as are available to domestic parties.

 

Natural Resource Based Products - This GATT Negotiating Group was formed as a direct result of pressure from resource-rich LDCs to have an additional forum to deal with their special concerns, including the removal of barriers to trade in natural resource-based products. There are different interpretations among participants as to whether this group includes only three traditional product areas examined during the early 1980s GATT Work Program on NRBPs: non-ferrous metals and minerals; fish and fish products; and wood and wood products, or whether the Group may also discuss barriers in non-traditional product areas such as energy-based products.

 

Nautical Mile:Distance of one minute of longitude at the equator, approximately 6,076.115. The metric equivalent is 1852.

 

NBA - Niger Basin Authority

 

NCTS (The New Computerised Transit System):The New Computerised Transit System (NCTS) is a computer system that has been developed to enable traders to submit Community/Common Transit declarations electronically.

 

NDAA - National Defense Authorization Act

 

NDER - National Defense Executive Reserve

 

NEC:Abbreviation for "Not Elsewhere Classified."

 

Negligence Clause - Clause in a Bill of Lading or Charter-Party which seeks to relieve the shipowner or carrier of liability for losses caused by the negligence of his servants or agents.

 

Negotiable Bill of Lading:Original bill of lading endorsed by shipper that is used for negotiating with banks.

 

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."

 

Negotiating Bank:A bank named in the credit; examines the documents and certifies to the issuing bank that the terms are complied with.

 

Negotiating Group - Within the Uruguay Round, a negotiating group is a forum in which contracting parties plan and manage the multilateral negotiations dealing with a particular issue. In the Uruguay Round, there are two major groups, the Group of Negotiations on Goods (GNG) and the Group on Negotiations of Services (GNS). Within the GNG, there are 14 issue-oriented subgroups.

 

neo-bulk cargo: Uniformly packaged goods, such as wood pulp bales, which stow as solidly as bulk, but are handled as general cargoes.

 

NEOBULK:Shipments consisting entirely of units of a single commodity, such as cars, lumber, or scrap metal.

 

NEP - New Economic Program

 

NES:Abbreviation for "Not Elsewhere Specified."

 

NES:Not Elsewhere Specified

 

Nested - A term used in less than truckload (LTL freight) shipping in which materials are stacked so that one item goes inside another. Nested freight reduces the amount of space taken up by the combined freight and makes LTL shipping more efficient as a result.

 

NESTED SOLID:When three or more different sizes of an article are placed within each other so that each article will not project above the next lower article by more than 1/4 inch.

 

Nested:Articles packed so that one rests partially or entirely within another, thereby reducing the cubic-foot displacement.

 

NESTED:When three or more different sizes of an article are placed within each other so that each article will not project above the next lower article by more than 33-1/3% of its height.

 

NET CAPACITY:The number of tons of cargo which a vessel can carry when loaded in salt water to her summer freeboard marks. Also called cargo carrying capacity, cargo deadweight, and useful deadweight.

 

Net Foreign Investment - Net foreign investment is the sum of U.S. exports of goods and services, receipts of factor income, and capital grants received by the United States (net), less the sum of imports of goods and services by the United States, payments of factor income, and transfer payments to foreigners (net). It may also be viewed as the acquisition of foreign assets by U.S. residents, less the acquisition of U.S. assets by foreign residents. It includes the BPA statistical discrepancy.

 

Net Tare Weight:The weight of an empty cargo-carrying piece of equipment plus any fixtures permanently attached.

 

NET TERMS:Free of charters’ commission.

 

Net Tonnage (NT):The cargo carrying capacity of a vessel expressed in volume. i.e. gross tonnage of a vessel less spaces used for stores, fuel, passengers, crew, navigation and propulsion machinery. One net ton equals 100 cubic feet of cargo capacity.

 

Net Tonnage:A vessel's gross tonnage minus deductions of space occupied by accommodation for crew, by machinery, for navigation, by the engine room and fuel. A vessel's net tonnage expresses the space available for passengers and cargoes.

 

NET TONNAGE:Equals gross tonnage minus deductions for space occupied by crew accommodations, machinery, navigation equipment, and bunkers. It represents space available for cargo (and passengers). Canal tolls are based on net (registered) tonnage.

 

Net Weight - It stands for Actual Net Weight. It is weight of goods alone excluding the packaging.

 

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. Also called actual net weight.

 

Network liability system:This is another kind of liability system such that the through transport manager assumes the duty. According to this system, the carrier signing the through bill of lading does not assume same duty although he is still responsible for the whole transportation. The compensation depends on the phase. For example, if the damage happens during the shipping period, the international transport regulations will work; if the damage happens during the railway or road transport period, the related international laws or domestic laws will work.

 

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.

 

The above details describes about terms called in shipping such as National Treatment,Nautical Mile,Negotiating Group ,Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as NASDA,National Agricultural Library,National Carrier , National flag, National Security Directives

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