Terms used in shipping such as Multinational Corporation,MultiTank Container,Not always afloat,Nominal horse-power,Not exceeding etc.
This post explains about terms used in shipping such as Multilateral Agreement,Multi-Fiber Arrangement,Multinational Corporation,MultiTank Container,Not always afloat,Nominal horse-power,Not exceeding 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
MT.:Empty.
MT:Abbreviation for "Metric Ton."
MT:Metric Ton
MTAG - Missile Technology Analysis Group
MTC:Maritime Transport Committee, OECD
MTCR - Missile Technology Control Regime
MTEC - Missile Technology Export Control Group
MTN - Multilateral Trade Negotiations
MTO - Multimodal transport operator
Multi-Fiber Arrangement - The MFA is an international umbrella compact, authorized by the General Agreement on Tariffs and Trade (GATT), that allows contracting parties to negotiate bilaterally quantitative restrictions on textile imports (which normally would be considered contrary to GATT provisions) to the extent the importing country considers them necessary to prevent market disruption. The Uruguay Round Agreement on Textiles and Clothing contains an agreed schedule for the gradual phase-out of quotas established pursuant to the MFA over a ten-year transition period, after which textile and clothing trade will be fully integrated into the GATT and subject to the same disciplines as other sectors. See: Committee for the Implementation of Textile Agreements.
Multilateral Agreement - An international compact in which three or more parties participate.
Multilateral Development Banks - There are five MDBs. See: African Development Bank Asian Development Bank European Bank for Reconstruction and Development Inter-American Development Bank World Bank.
Multilateral Investment Fund - The MIF provides program and project grants to advance investment reform and technical assistance for privatization movements in Latin America and the Caribbean and to encourage domestic and foreign investment in the area. The Fund, an outgrowth of the Enterprise for the Americas Initiative, is administered by the Inter-American Development Bank. MIF was established in January 1993. See: Enterprise for the Americas Initiative.
Multilateral Investment Guarantee Agency - MIGA was established in April 1988 as a part of the World Bank Group. MIGA encourages equity investment and other direct investment flows to developing countries through the mitigation of noncommercial investment barriers. The agency offers investors guarantees against non-commercial risks; advises developing member governments on the design and implementation of policies, programs, and procedures related to foreign investments; and sponsors a dialogue between the international business community and host governments on investment issues. MIGA provides coverage for equity interests, other forms of direct investment, industrial cooperation such as management and service contracts, licensing and franchising agreements, turnkey contracts, and arrangements concerning transfer of technology and know-how in which the investor assumes a stake in the performance of the venture. See: World Bank.
Multilateral Steel Agreement - Attainment of an MSA was an achievement intended as part of the Steel Trade Liberalization Program and resulting the Bilateral Consensus Agreements. The MSA would have addressed the underlying causes of unfair trade in steel by eliminating tariffs, nontariff measures such as quotas, and most subsidies in the steel sector, and established a dispute-settlement mechanism. The United States and 34 other countries participated in negotiations for an MSA under the general auspices of the General Agreement on Tariffs and Trade. MSA negotiations were suspended in March 1992, coincident with the expiration of the steel voluntary restraint agreements.
Multilateral Trade Negotiations - A term describing the eight multilateral rounds of negotiations held under the auspices of the General Agreement on Tariffs and Trade since 1947. See: Rounds.
Multilateral Trade Negotiations (MTN) - Eight rounds of multilateral trade negotiations have been held under GATT auspices since 1947. Each negotiation has had the goal of reducing or eliminating tariffs among signatory countries. The Tokyo and Uruguay Rounds have focused on non-tariff measures as well.
Multimodal:Synonymous for all practical purposes with "Intermodal."
Multinational Corporation - A multinational corporation is a business which owns or controls product or service facilities outside the country in which it is based.
Multiple Package Shipments:Multiple package shipments consist of Individual packages that may have different weights, dimensions and declared value but can be accepted on one waybill if the shipment destined to a single address.
MULTIPURPOSE SHIP:Any ship capable of carrying different types of cargo which require different methods of handling. There are several types of ships falling into this category, for example, ships which can carry roll on/roll off cargo together with containers.
MultiTank Container:A container frame fitted to accommodate two or more separate tanks for liquids.
Mutual Recognition Agreements - MRAs are negotiated on a sectoral basis (such as: telecommunciations, medicial devices, pharmaceuticals, chemicals, processed foods) and allow countries to accept each other's final test results, although quality assurances may be required. Under MRAs, the entire testing and certification process may occur outside the importing country. Under MRA's with the European Community, a U.S. firm would obtain product certification on an EC-wide basis, enabling the firms to market its products throughout the Community. Based on private-law contractual negotiations, subcontracting permits a notified body of the EC to delegate some of its testing responsibilities to a third-country testing lab or quality assessment body. However, the notified body retains ultimate responsibility for final decisions relating to EC certification. Formal discussions between representatives of the U.S. Government and the European Economic Community on entering MRSs began in October 1992.
MV - Motor vessel.
MW:Minimum Weight Factor.
n.a. - Information not available. Net absolutely
n.a.a. - Not always afloat
N.A.S.D.I.M. - National Association of Securities Dealers and Investment Managers
N.A.T.O. - Noth Atlantic Treaty Organization
N.C.A.R. - No claim for accident reported
N.C.I.T.D.;National Committee on International Trade Documentation.
N.C.V. - No commercial value
n.d.w. - Net dead weight
n.e. - Not exceeding
N.E.D.C. - National Economic Development Council
N.E.M.:Not elsewhere mentioned.
n.e.p. - Not elsewhere provided
n.e.s. - Not elsewhere specified
N.H.P. - Nominal horse-power
N.K.K. - Nippon Kaiji Kyokai
N.K.O.R.L. - No known or reported loss
N.M.A. - (Lloyd's) Underwriters Non-Marine Association
N.M.F.C.:National Motor Freight Classification.
The above details describes about terms called in shipping such as Multilateral Agreement,Multi-Fiber Arrangement,Multinational Corporation,MultiTank Container,Not always afloat,Nominal horse-power,Not exceeding 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 Misdescription,Mixed Credit,mixed cargo,mobile crane,Molchop,mooring dolphin
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