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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


N.A.

Net Absolutely; no deductions from gross premium for brokerage or discount.


N.D.

Non-Delivery.


N.R.A.D.

No Risk After Discharge or No Risk After Landing (N.R.L.D.) especially in use for merchandise consigned to an area where political or other conditions are unsettled.


N.R.A.S.

No Risk After Shipment.


N.R.T.O.R.

No Risk to Attach till on Rail.


N.R.T.W.B.

No Risk to Attach till Water Borne; particularly used where congestion (conflagration hazard) exists.


Named Perils Policy

Any marine policy limiting cover to perils specifically listed in the policy; opposed to All Risks policy.
All Risk


Narrow Body Aircraft

Aircraft with one corridor, such as a DC-9 and a Boeing 737.


Navigation

Act of determining position, location and course to the destination of an aircraft or a vessel.


Negligence

Imprudent action or omission which may cause injury, damage or loss.


Negotiable

In terms of documents, “negotiable” means that e.g. a Bill of Lading is handed over/transferred in the right manner (viz. proper endorsement) to another person. It is either endorsed in blank or endorsed to a person, and that person acquires by this transfer certain rights vis-a-vis the goods (i.e. is entitled to take possession of the goods).


Net Manifest

Manifest containing all freight details including negotiated disbursements.


Net Register Ton

Volumetric measure of the useful capacity of a vessel determined in accordance with the provisions of the international convention on tonnage measurement of vessels.


Net Weight

Weight of the goods, excluding all packing.


No Value Declared

Abbreviation: NVD. Notation on Air Waybill which indicates that no specific value has been declared to the carrier for carriage of the merchandise. Liability of the carrier would therefore be as defined by statute or as incorporated in the Waybill.
Released Bill


Non Vessel Operating Carrier

Abbreviation: NVOC. Party that undertakes to carry goods and issues in its own name a Bill of Lading for such carriage, without having own means of transport.


Non-Delivery

Abbreviation: N.D. Disappearance of an entire shipping package rather than the contents themselves or a portion of the contents.


Non-Disclosure

Failure of the insured or their broker to disclose a material circumstance to the underwriter before acceptance of the risk. A breach of good faith.


Non-IATA Member

Airline company which is not a member of IATA but which may work on terms of IATA as an interline partner.


Non-Tariff Barriers

Abbreviation: NTB. Economic, political, administrative or legal impediments to trade other than duties, taxes, and import quotas.


NOR

Notice of Readiness


Normal Charge

Specified general cargo rate without any quantity discount (air cargo).


Normal Course of Transit

Orderly transit of merchandise from the point of origin to the final destination without interruptions or delays resulting from the action or inaction of any party at interest.


Normal General Cargo Rate

Under 45 kg rate or, if no under 45 kg rate exists, the under 100 kg rate (air cargo).
Synonym: Normal Rate


Normal Rate

Normal General Cargo Rate


Notice of Abandonment

Condition which must precede a constructive total loss. If the insured fails to give notice to the underwriter, the loss can be treated only as a partial loss unless an actual total loss is proven. An underwriter who accepts notice admits liability for the loss. Notice is not necessary where it would not benefit the underwriter, where the underwriter waives the obligation or in the case of a reinsurance provided the policy incorporates the “waiver” clause. Action taken by an underwriter to prevent or reduce the loss is not deemed to be an acceptance of abandonment.
Waiver Clause Constructive Total Loss


Notice of Readiness

Abbreviation: NOR. 1. Written document or telex issued by the master of a vessel to the charterers advising them the moment when a vessel is ready to load or discharge. 2. Document advising a consignee or their agent that cargo has arrived and is ready for delivery.


Notify Address

Address of the party other than the consignee to be advised of the arrival of the goods.


Notify Party

Party to be notified of arrival of goods.
Arrival Notice


NTB

Non-Tariff Barriers


NVD

No Value Declared


NVOC

Non Vessel Operating Carrier.



A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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