Terms used in shipping such as Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement

 

Terms used in shipping such as Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement etc.

 

 

This post explains about terms used in shipping such as New-To-Export,New-To-Market,Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement,NONCONTIGUOUS 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

 

New Jason Clause - Protective clause inserted into a Charter-Party or Bill of Lading which provides that the shipowner is entitled to recover in general average even when the loss is caused by negligent navigation. The need for such a clause arises from the decision of an American court that, while American law exempted a shipowner from liability for loss or damage to cargo resulting from negligent navigation, this did not entitle the shipowner to recover in general average for such a loss.

 

Newly Independent States - The NIS is a collective reference to 12 republics of the former Soviet Union: Russia, Ukraine, Belarus (formerly Byelorussia), Moldova (formerly Moldavia), Armenia, Azerbaijan, Uzbekistan, Turkmenistan, Tajikistan, Kazakhstan, and Kirgizstan (formerly Kirghiziya) and Georgia. Following dissolution of the Soviet Union, the distinction between the NIS and the Commonwealth of Independent States (CIS) was that Georgia was not a member of the CIS. That distinction dissolved when Georgia joined the CIS in November 1993.

 

Terms used in shipping such as Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement etcNewly Industrializing Countries - The term, originated by the Organization for Economic Cooperation and Development (OECD), describes nations of the Third World that have enjoyed rapid economic growth and can be described as "middle-income" countries (such as Singapore and the Republic of Korea).

 

Newly Industrializing Economies - NIE's is a term generally applied to the more advanced developing countries in East Asia. The reference includes Hong Kong, Korea, Singapore, and Taiwan; occasionally its use encompasses other countries as well, such as Indonesia and Thailand.

 

New-To-Export - As defined by the International Trade Administration, a new-to-export action is one that results from documented assistance to a company that assists the client's first verifiable export sale. Either the company has not exported to any destination during the past 24 months or prior exports have resulted from unsolicited orders or were received through a U.S.-based intermediary.

 

New-To-Market - As defined by the International Trade Administration, a reportable new-to-market export action is one that results from documented assistance to an exporter that facilitates a verifiable sale in a new foreign market. Either the company has not exported to that market during the past 24 months or previous exports to that market have resulted from unsolicited orders or were received through a U.S. based intermediary.

 

NG - Non-Governmental Organization

 

NIA - Nearest international airport

 

NIB - Nordic Investment Bank

 

NIC - National Intelligence Council

 

NICs - Newly Industrialized Countries

 

NIEs - Newly Industrializing Economies

 

Niger Basin Authority - The NBA (French: Autorite du Bassin du Neiger) fosters coordinated development of the Niger Basin area. The Authority regulates navigation, publishes statistics and hydrological forecasts, promotes environmental control and agricultural and infrastructure development. NBA's predecessor organization was established in 1964; headquarters are in Niamey, Niger. NBA members include: Benin, Burkina Faso, the Cameroon, Chad, C"te d'Ivoire, Guinea, Mali, Niger, and Nigeria.

 

Nigeria Trust Fund - The NTF grants loans on preferential terms to finance projects in Nigeria in cooperation with other lending institutions. The Fund, which is administered by the African Development Bank, was established in February 1976.

 

NIPA - National Income and Product Accounts

 

Nippon Kaiji Kyokai - Japanese ship classification society.

 

Nippon Kaiji Kyokai (NK):A Japanese classification society which certifies seagoing vessels for compliance to standardized rules regarding construction and maintenance.

 

Nippon Telegraph and Telephone Corporation - NTT is Japan's largest telecommunications enterprise and was converted from a public corporation to a private enterprise in April 1985. Although competition has been allowed, the Japanese Government still owns the majority of NTT stock and postponement of a decision in NTT divestiture is an issue of considerable importance to market access by foreign companies. NTT was established in 1952.

 

NIRU (National Import Relief Unit):Temporary Import unit of H M Revenue & Customs

 

NIS - Newly Independent States

 

NMEs - Nonmarket Economies

 

NMFC - [check National Motor Freight Classification]

 

NMFC (National Motor Freight Classification system):a numbering system that is used to determine the rate at which freight charges should be applied according to weight for less than truckload carriers.

 

NMFC:National Motor Freight Classification.

 

NNPA - Nuclear Non-Proliferation Act

 

NNPT - Nuclear Non-Proliferation Treaty

 

NO OBJECTION CERTIFICATE:A document provided by scheduled or national airlines of many countries declaring no objection to a proposed charter flight operated by another airline. It is often demanded by government authorities before they grant permission for a charter flight to take place.

 

NO OBJECTION FEE:A sum of money normally paid by a charter airline to a scheduled airline in order that it waives its right of objection to its government, thus allowing a charter to take place. The amount is usually a fixed percentage of the gross cost of a charter. Tantamount to a bribe, this is common practice in the Middle East and Africa.

 

NOE - Not Otherwise Enumerated - Category in a freight tariff of a shipping line or liner conference which covers commodities not specifically described elsewhere in the tariff.

 

NOHP:Not Otherwise Herein Provided.

 

NOI:Abbreviation for "Not Otherwise Indexed."

 

NOIBN:Abbreviation for "Not Otherwise Indexed By Name."

 

nom. std. - Nominal standard

 

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.

 

Nomination - Designation of a specific ship for a particular voyage by a shipowner or shipping line.

 

Non Vessel Operating Common Carrier (NVOCC):A cargo consolidator in ocean trades that will buy space from a carrier and re-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.

 

non.d. - Non delivery

 

Non-Aligned Movement - The NAM is an alliance of third world states which aims to promote the political and economic interests of developing countries. The name orignated in a declaration of neutrality issued at the Conference of Non-Aligned Countries in Belgrade, Yugoslavia in September 1961. NAM interests have included ending colonialism/neo-colonialism, supporting the integrity of independent countries and seeking a new international economic order.

 

Non-Conference Line - See independent line.

 

NON-CONFERENCE LINE:A shipping line which operates on a route served by a liner conference but which is not a member of that conference.

 

NONCONTIGUOUS:Domestic shipping routes serving Alaska and non-continental U.S. States and territories.

 

The above details describes about terms called in shipping such as New-To-Export,New-To-Market,Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement,NONCONTIGUOUS 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 Negotiable Instruments,neo-bulk cargo,Nested,Net Weight,NET TONNAGE

 

Related posts about free online training on overseas trade:

 

 

How to export your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Documentation procedures on high sea sale
How to get non preferential Certificate of Origin, state wise
Types of export containers
SEIS scheme for exporters in India
How does Letter of Credit work?
How to get Certificate of Origin non preferential in Meghalaya?
How to get Certificate of Origin non preferential in Manipur?
Office to contact in Maharashtra for Certificates of origin non preferential
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Triangular shipment
Types of Insurance Documents
Import General Manifest (IGM)
Importance of Bill of Lading
Introduction to this web site


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers