Terms used in trade such as Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency etc.

 

 

The terms used in business such as Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency etc.

 

 

This post explains about terms used in business such as Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency ,Non-Disclosure ,Nonfeasance,Non-market Economy ,Non-Executive 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.

 

The terms used in business

 

Next-Generation - Term used to describe a product or technology which has been improved or upgraded so that the newest version is much more advanced than previous versions.

 

NIC / NPI :Newly Industrialised Countries: Group of countries, principally from South-East Asia, which have undergone a phase of intensive industrialisation during the 70s and the 80s and are enjoying today a standard of living very similar to that of the developed countries (e.g.: South Korea, Singapore, Malaysia etc.).

 

Niche Market - A specialised market in which a specific product is sold to a particular type or group of customers. A product or service for which there is sometimes little demand and often little or no competition.

 

niche: A well-defined group of customers for which what you have to offer is particularly suitable.

 

The terms used in  business such as Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency etcNielsen Rating - In the US, a system which measures TV audiences, i.e., which programmes are watched by which type of person. Companies use this information to decide when to advertise their products, and TV companies use this information to set prices for advertisement slots.

 

Night/Weekend - Within and between the contiguous United States and Hawaii, the term "Night/Weekend" denotes 11:00 p.m. to but not including 8:00 a.m. local time at the originating city, any time on Saturday, and all day Sunday except 5:00 p.m. to but not including 11:00 p.m.

 

NIH Syndrome - Not Invented Here. A term used for companies who reject ideas or products which are not theirs because they originated from outside the company.

 

Nikkei Index - A share price index for the 225 stocks traded on the Tokyo Stock Exchange in Japan.

 

No-Load Fund - A fund which does not impose a sales or commission fee on the investor for the buying and selling of stocks and shares.

 

no-load fund: a mutual fund that does not charge a fee for purchase or sale of shares.

 

Nominal Cash Flow - A cash flow expressed in nominal terms if the actual dollars to be received (or paid out) are given.

 

Nominal Damages - A very small sum of money awarded by a court to the plaintiff when no real damage or harm was caused by the defendant, who has to pay the damages, usually $1 or £2.

 

Nominal Interest Rate - Interest rate unadjusted for inflation.

 

Nominal Partner:A person who is not a partner but merely lends his name to the firm for the interest of business is known as a nominal partner. A nominal partner, in the eyes of general public, is a member of the business concern and thus, under certain circumstances, may obligate the firm members by his acts and becomes liable for the debts of the firm.

 

Non Sequitur - in communications/debate, logic, and notably the law, non sequitur basically refers to a conclusion which is false or unsupported by its argument. In literature or comedy non sequitur refers more specifically to a statement which does not relate to what precedes it in a bizarre and often amusing way - a funny example of non sequitur humour/humor is Monty Python's Holy Grail 'Burn the witch' sketch in which a series of non sequitur conclusions are used: (paraphrased) "...You burn witches; wood also burns; so witches are made of wood. Wood floats; a duck also floats; so a witch weighs the same as a duck..." In politics we frequently hear non sequitur arguments and justifications routinely used by politicians and disguised to seem like logical rational reason, when in fact the argument/justification completely fails to support the conclusion, and bluff with force/confidence/arrogance of delivery is effectively the most persuasive factor.

 

Non Vessel Operating Common Carrier Abbreviation: NVOCC A party who undertakes to carry goods and issues his own name Bill of Lading for such carriage, without having the availability of any own means of transport. Notify Party The party to be notified of arrival of goods

 

Non-Bell Service Area – The geographic service area of any "independent" LEC which is not a Bell Operating Company.

 

Non-Callable - Also known as Bulletbond. A bond or stock which cannot be redeemed by the issuer before a particular date or until maturity.

 

Non-Compliance - Failure or refusal to obey or comply with a rule, regulation or standard, which can commonly result in serious action by an inspector or ombudsman.

 

Nonconvertible Currency - A currency is not convertible when both residents and nonresidents are prohibited from converting their holdings of that currency into another currency.

 

Non-Departmental Public Body - Also known as Quangos (Quasi-Autonomous Non- Governmental Organisations) In the UK, organisations which are not government departments but are accountable to Parliament and are financed by the government to deal with public matters, e.g., Health Trusts.

 

Non-Disclosure - A signed formal agreement in which one party agrees to keep certain information secret. Often used in business when products or projects are being developed.

 

nondisclosure agreement: a legally enforceable agreement preventing present or past employees from disclosing commercially sensitive information belonging to the employer to any other party.

 

Nondisclosure agreement (NDA):  A document in which a potential buyer pledges confidentiality regarding a particular business for sale

 

Non-Executive - In business, a member of a board of directors or a consultant who is not an employee of a company but who gives independent advice.

 

Non-executive director - a director who does not work directly for a company but advises the other directors. Non-executive directors have the full powers and authority of any other director and can bind the company to any contract.

 

Nonfeasance - Failure to perform a duty or carry out an act when under legal obligation.

 

Non-governmental Organizations (NGOs) - Legally constituted, special interest groups created by natural or legal persons with no participation or representation of any government.

 

Non-guaranteed proportion / Quotité non garantie :Portion not covered by the OND, for which the insured party has to assume exclusive responsibility.

 

Nonintermediated Debt Market - A financial market in which borrowers (governments and large corporations) appeal directly to savers for debt capital through the securities markets without using a financial institution as intermediary.

 

Non-market Economy - An economy in which the government, through the use of central planning, makes most economic decisions to control economic activity.

 

Non-monetary transaction / Compensation :This is a technique available to the exporter when his buyer does not want to or is not in a position to financially settle his dues. The settlement is made in the form of the provision of products or services of a value equivalent to that of the goods exported. The different kinds of non-monetary transactions include barter, counter purchase, buy back, clearing and offset contracts.

 

Non-payment / Non-paiement :Non-payment occurs when there is a failure to recover the sums due under the Contract within the waiting period.

 

Non-pc - Language or an action which is considered not to be politically correct, i.e., potentially offensive, especially to a minority group of some sort.

 

Non-Recourse Debt - A type of loan or debt in which the borrower is not personally liable to the lender. If the borrower fails to make repayments the lender can only take back what was bought with the loan and none of the borrowers other assets.

 

Non-Recurring Charge - A one-time charge payable by the subscriber to the Carrier for installation or temporary use of service facilities.

 

The above details describes about terms called in business such as Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency ,Non-Disclosure ,Nonfeasance,Non-market Economy ,Non-Executive 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 overseas trade below this post.Terms used in trade such as NCVPS ,Negative Growth,Negative Inventory , Nest Egg,Net Assets,net capital etc.

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