Terms used in trade such as Non-tariff Barrier,Normal Trade Relations, Nosedive,Notice Period ,Not-Spot,Nudge Theory etc.


The terms used in business such as Non-tariff Barrier,Normal Trade Relations, Nosedive,Notice Period ,Not-Spot,Nudge Theory etc.



This post explains about terms used in business such Non-tariff Barrier,Normal Trade Relations,Nosedive,Notice Period ,Not-Spot,Nudge Theory,Number Cruncher,Objects Clause,Obsolescence 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


nonrecurring: One time, not repeating. "Nonrecurring" expenses are those involved in starting a business, and which only have to be paid once and will not occur again.


Non-tariff Barrier - An indirect measure used to discriminate against foreign manufacturers, for example, extensive inspection procedures for foreign imports that create barriers to entering the market.


Non-tariff barriers / Barrières non-tarifaires :Entire set of non-tariff restrictive measures implemented by a country seeking to protect its market from foreign competition. The most common examples are quotas, technical or health standards or any enactment favouring domestic companies.


Nordic Council - A regional alliance established in 1952 between Norway, Sweden, Finland, Denmark, and Iceland that is dedicated to cooperation among the Nordic countries. This has led to a common labor market, social security, and free movement of citizens across borders.


The terms used in  business such as Non-tariff Barrier,Normal Trade Relations, Nosedive,Notice Period ,Not-Spot,Nudge Theory etcNormal Trade Relations (NTR) - New name for Most Favored Nation (MFN) trading status, in which the country which grants this status accords the recipient's imports and exports the most favorable treatment that it accords any country.


Normal Work Hours - The time after 8:00 a.m. and before 5:00 p.m., Monday through Friday excluding Carrier-observed holidays.


North American Dial Plan (NADP) - The method of identifying calls in the public network of North America, called World Numbering Zone 1. The calls are identified by their NPA (area code) - NXX (exchange) - XXXX (station number) format.


North American Free Trade Agreement (NAFTA): Effective January 1, 1994, the NAFTA is a regional trade pact that was signed by the United States, Canada and Mexico. Its goal is to eliminate tariffs and trade barriers between the three countries and create a common trade bloc of over 380 million consumers. By 2008, it will have systematically eliminated tariff barriers on the 9000 product categories of good produced and sold throughout North America.


North-south Divide - A socio-economic and political division that exists between wealthy developed countries, known collectively as "the North", and poorer developing countries, or "the South."


Nosedive - A sudden drop or plunge in prices, values, etc.


Not Enough Bandwidth - Term which is used when there are not enough people and/or enough time to get a job done.


Notary - A person, usually a solicitor, officially authorised to witness signatures and certify legal documents.


Notary public:A notary public is a public officer who is appointed by the government. His duty is to certify the deeds and other documents and to note the non-acceptance or non-payment of bills of exchange and protest them later, if necessary.


note: A document that is recognized as legal evidence of a debt.


Notebook - A very small portable computer.


Notice Of Deficiency - In the US, an official document sent to a taxpayer which shows that they owe more tax than has been declared on their tax form.


Notice of potential future procurements (also known as forward procurement schedules):A notice published by a government agency about an upcoming procurement. The publishing of a forward notice does not, however, guarantee that procurement will necessarily go ahead.


Notice Period - The period of time during which an employee must work between resigning from and leaving their place of work.


Noting -a Bill:When a bill of exchange is dishonored either by non-acceptance or non­payment, the holder of the bill places .it in the hands of a notary public who represents the bill to the drawee for acceptance or to the acceptor for payment as the case may be. If the bill is again dishonored, the notary public records the fact either upon the bill or in a slip of paper enclosed therewith. The procedure of so certifying the fact of dishonor is called Noting.


Not-Spot - An area of poor or lack of coverage in cellphone service or similar communications technology.


No-Win No-Fee - Conditional Fee Agreement. An agreement with your solicitor in which you don't have to pay their fee if your court case is not successful.


NPA - An area code, otherwise called numbering plan area.


NPAI / NPAI :No longer lives at the indicated address (N'habite Pas à l'Adresse Indiquée); incorrect address, death, etc.


Nudge Theory - a modern concept and 'instrument' of social influence, used by governments, state organizations and commercial corporations, chiefly attributed to US professor of economics/behavioral science Richard Thaler, popularized by the 2008 book 'Nudge: Improving Decisions About Health, Wealth, and Happiness', by R Thaler and Cass R Sunstein. Nudge theory, or simply 'Nudge', employs principles/techniques of suggestion, positive accentuation, situational/environmental adjustment, support, reward, etc., in altering behaviour/behavior of social groups, populations, audiences, etc. Methods are based on the careful design of communication and relationship between the influencer and the target group, often applied with great subtlety and sophistication. Many of the tactics are hardly noticeable, and target groups will commonly not perceive remotely that their actions and attitudes have been influenced at all. The sense is one of achieving a big beneficial/advantageouos change by exerting often a tiny but crucial influence at a crucial point in the decision-making process, or at a pivotal stage, so as to produce a major change-effect. Nudge theory is to an extent counter-intuitive because it seeks to achieve influence more effectively than traditional strategies involving forceful instruction, threat, legal action or other enforcement.


Number Cruncher - An accountant or person who's job is working with numbers, and who is able to do large calculations. A computer which can perform complex calculations in a short time.


Numbered Account - Often called a Swiss Bank Account. An account, offered by certain banks, which can only be identified by a number, so the account holder is known only to a restricted number of the bank's employees.


NVQ - National Vocational Qualification. In the UK, a qualification with no age limits, that does not have to be completed in a specified time, which reflects the skills and knowledge required to perform a particular job competently.


NXX - The designation for the first three digits of a local telephone number where N represents 2-9 and X represents 0-9.


objective: an end toward which effort is directed and on which resources are focused, usually to achieve an organization's strategy.


Objects Clause - A section in a company's Memorandum Of Association which sets out the objectives of the company.


Obsolescence - The state of becoming obsolete or out of date. Old-fashioned.


obsolescence: the decline of products in a market due to the introduction of better competitor products or rapid technology developments.


Occam's Razor/Ockham's Razor - a guiding principle or maxim for theorists, writers, communicators, etc., which asserts that the most effective (and arguably most reliable) explanations and theories employ minimal assumptions. In other words, in choosing between competing theories or explanations for uncertain things, the most reliable theory will be that which entails the least use of assumptions and other unknowns. More generally the term is used in reminding/guiding us of a need for prudence, economy and simplicity in describing, justifying, or explaining ideas and concepts, etc. The 'razor' term seems first named and recorded by Sir William Hamilton in 1852, after the 14th-century English logician and Franciscan friar Father William of Ockham (c.1285-1349), who was a notable early advocate of the principle. Philosophers and scientists throughout history (including Einstein, Russell, Newton) have described similar and basically supportive versions of the Occam's Razor principle, moreover many great thinkers have also demonstrably put the principle into practice in their own work, from which we can derive a reasonable degree of confidence in the validity of the concept itself. It's a very memorable and teachable idea - the theme itself, its Ockham derivation, and the metaphorical allusion to 'shaving' away unnecessary or unsubstantiated aspects of a written or spoken theory or explanation.


The above details describes about terms called in business such as Non-tariff Barrier,Normal Trade Relations,Nosedive,Notice Period ,Not-Spot,Nudge Theory,Number Cruncher,Objects Clause,Obsolescence 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 Next-Generation ,Nielsen Rating,Nominal Damages,Non Sequitur ,Nonconvertible Currency etc.

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