Terms used in shipping such as Non-Tariff Measures ,Nordic Investment Bank,Nordic Council,Norske Veritas


Terms used in shipping such as Non-Tariff Measures ,Nordic Investment Bank,Nordic Council,Norske Veritas etc.



This post explains about terms used in shipping such as Non-Market Economy,Non-Reversible Laytime,Non-Tariff Measures ,Nordic Investment Bank,Nordic Council,Norske Veritas,North Atlantic Treaty Organization ,North American Free Trade Agreement 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


Non-Document Shipments:Non-document shipments are shipments that are not personal, interoffice or business documents (PIB) and usually require a Commercial Invoice.


Non-Dumping Certificate:Required by some countries for protection against the dumping of certain types of merchandise or products.


Non-Governmental Organization - The term "NGO" is generally applied to private sector nonprofit organizations that contribute to development in developing countries through such activities as development cooperation projects, financial aid, material aid, the dispatch of personnel, the acceptance of trainees, and development education. In this context, NGOs are accredited by the United Nations or its specialized agencies and can lobby and do business with them.


Terms used in shipping such as Non-Tariff Measures ,Nordic Investment Bank,Nordic Council,Norske Veritas etcNon-Market Economy (NME) - An economy where commercial activity is centrally planned. While the GATT has some NME members, it is difficult to enforce the rules since the GATT system is based on market principles.


Non-Negotiable Bill of Lading - Bill of Lading which is not a signed, original Bill of Lading and which is therefore not capable of being used to transfer title in the goods described in it.


Non-negotiable Bill of Lading:Copy of original bill of lading which cannot be negotiated with banks.


Non-Reversible Laytime - Term used in a voyage Charter-Party to signify that the time allowed to the charterer for loading is to be treated separately from the time allowed for discharging for the purpose of calculating demurrage or despatch.


Non-Tariff Barriers - NTBs are market access barriers that result from prohibitions, restrictions, conditions or specific requirements and make exporting products difficult and/or costly. The term covers any restriction or quota, charge, or policy, other than traditional customs duties, domestic support programs, discriminatory labeling and health standards, and exclusive business practices which limit the access of imported goods. NTBs may result from government or private sector actions.


Non-Tariff Measures - While there is no specific definition of an NTM, some of the most commonly-used NTMs include import quotas or other quantitative restrictions, non-automatic import licensing, customs surcharges or other fees and charges, customs procedures, export subsidies, unreasonable standards or standards-setting procedures, government procurement restrictions, inadequate intellectual property protection, and investment restrictions. Participants in the Tokyo Round attempted to address these barriers through the negotiations of a number of GATT codes, open for signature to all GATT members. Seven codes were negotiated during the Tokyo Round, covering customs valuations, import licensing, subsidies and countervailing duties, antidumping duties, standards, government procurement, and trade in civil aircraft. - Although the Tokyo Round codes had alleviated some of the problems caused by non-tariff measures, overall use of NTMs has increased since conclusion of the Tokyo Round.


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.


NonVessel Owning Carrier - An NVOC is a firm which consolidates and disperses international containers that originate at, or are bound for, inland ports.


NOR - Notice of Readiness - Provision in a voyage charter that the shipowner or master must advise the charterer when the ship has arrived and is ready to load or discharge for laytime to start counting. The clause containing this provision often stipulates the particular hours and days when this notice may be tendered and how soon afterwards laytime commences.


NOR:Notice of Readiness. (When the ship is ready to load.)


NORAD - Norwegian Agency for Development Cooperation


Nordic Council - The Nordic Council, established in 1952, is directed toward supporting cooperation among Nordic countries in communications, cultural, economics, environmental,, fiscal, legal, and social areas. Members include: Denmark, Finland, Iceland, Norway, and Sweden. Council headquarters are in Stockholm, Sweden.


Nordic Investment Bank - The NIB, which began operating in December 1975, promotes economic cooperation and development by providing resources and guarantees for exports and for capital investment projects. Bank members include: Denmark, Finland, Iceland, Norway, and Sweden. Bank headquarters are in Helsinki, Finland.


Norske Veritas (NV):A Norwegian classification society which certifies seagoing vessels for compliance to standardized rules regarding construction and maintenance.


North American Development Bank - The NADBank, to be capitalized and governed by the United States and Mexico, is intended to provide financing related to the North American Free Trade Agreement. The NADBank will finance projects certified by the Border Environment Cooperation Commission and support for community adjustment and investment. Up to 10 percent of NADBank resources may be made available for community adjustment and investment which need not be in the border region. See: Border Environment Cooperation Commission.


North American Free Trade Agreement - NAFTA, which entered into force in January 1994, is a free trade agreement comprising Canada, the United States and Mexico. NAFTA exceeds 360 million consumers and a combined output of $6 trillion --approximately 20 percent larger than the European Community. NAFTA's consumer population is slightly smaller than the European Economic Area which has over 380 million consumers. The Agreement: - Progressively eliminates almost all U.S.-Mexico tariffs over a 10-year period, with a small number of tariffs for trade-sensitive industries phased out over a 15-year period. Mexico-Canada tariffs are also phased out over a 10-year period. Tariff reduction schedules between the United States and Canada negotiated in the Canadian Free Trade Agreement are retained. - Eliminates other barriers to trade such as import licensing requirements and Customs user fees. - Establishes the principle of national treatment, for ensuring that NAFTA-origin products trade between NAFTA countries will receive treatment equal to similar domestic products. - Guarantees service providers of the three countries equal treatment in the NAFTA area, including the right to invest and the right to sell services across borders. - Establishes five basic principles to protect foreign investors and their investment int he free trade area: (a) nondiscriminatory treatment, (b) freedom from performance requirements, (c) free transference of funds related to an investment, (d) expropriation only in conformity with international law, and (e) the right to seek international arbitration f or a violation of the agreement's protections. The Agreement contains special provisions for sensitive economic sectors, including agriculture, automotive products, energy, and textiles and apparel. The Agreement also created a Border Environment Cooperation Commission and a North American Development Bank. See: Border Environment Cooperation Commission North American Development Bank Performance Requirements.


North American Free Trade Agreement (NAFTA):A trade agreement between Canada, the U.S. and Mexico that encourages free trade between these countries.


North Atlantic Treaty Organization - NATO members include Belgium, Canada, Denmark, France (which has only partial membership), Greece, Iceland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Turkey, United Kingdom, United States, and Germany. With the end of the "cold war," NATO's role, originally defense-oriented is being redefined.


Norwegian Agency for Development Cooperation - NORAD provides financing of project exports from Norway to developing countries for development undertakings which contribute to development and which can be sustained without future external assistance. About 50 percent of Norwegian assistance is bilateral aid; the balance is channelled as multialteral aid through UN specialized agencies and financial institutions, including regional development banks. NORAD bilaterial aid includes provisions for Norwegian private industrial sector participation as suppliers of capital equipment and services and technology. A portion of assistance may involve concessional financing for Norwegian project exports, including mixed credits, export credit guarantees, support for training in connection with project exports, and tied co-financing on grant basis with the World Bank, the African Development Bank, and the Asian Development Bank. NORAD assistance is subject the OECD's Development Assistance Committee guidelines for development assistance and associated financing. NORAD was established in 1968; headquarters are in Oslo, Norway.


NOS:Not Otherwise Specified.



Nose:Front of a container or trailer - opposite the tail.


The above details describes about terms called in shipping such as Non-Market Economy,Non-Reversible Laytime,Non-Tariff Measures ,Nordic Investment Bank,Nordic Council,Norske Veritas,North Atlantic Treaty Organization ,North American Free Trade Agreement 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 Nigeria Trust Fund,Nippon Kaiji Kyokai,Nomination,Non-Aligned Movement

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