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Named Perils Policy - Any marine policy limiting coverage to perils specifically listed in the policy; as opposed to All Risks policy. See "All Risks".
NAFTA - North American Free Trade Association.
N.C.I.T.D. - National Committee on International Trade Documentation.
NEC - Abbreviation for Not Elsewhere Classified.
Negligence - Failure to exercise degree of care demanded by law.
Negotiable Instrument I Paper - A draft, bill/ check of lading, or promissory note that is transferable from one person to another in good faith for a consideration. Non-negotiable bills of lading are known as straight consignment. Negotiable bills are known as order 8/L's.
Nesting - Fitting one article of cargo inside the other to economize space, thereby reducing the cubic-foot displacement.
Net - Figures/total remaining after all charges/deductions have been subtracted.
Net Registered Tons - This tonnage is frequently shown on ship registration papers; it represents the volumetric area available for cargo at 100 cubic feet = 1 ton. It is often used by port and canal authorities as the basis for charges.
Net Tare Weight - The weight of an empty container plus any fixtures permanently attached.
Net Short Ton - 2000 pounds
Net Ton - Mile - Movement of ton of freight one mile
Net Tonnage - A vessel's gross tonnage minus deductions of space that is occupied by accommodations for crew, by machinery, for navigational purposes, by the engine room and fuel. A vessel's net tonnage expresses the available space for cargo and passengers.
Net Weight - Weight of goods alone without any immediate wrapping; for instance, the weight of sardines in a tin can, without the weight of the cab. Opposite of tare.
Neutral Body - An organization that is established by the members of an ocean conference that acts as a self-policing force with broad authority to investigate tariff violations, including authority to scrutinize all documents kept by the carriers and their personnel. Violations are reported to the membership and significant penalties may be assessed.
N.M.F.C. - National Motor Freight Classification.
Node - A fixed point in a firm's logistics system where goods come to rest; plants, warehouses, supply sources, market destination.
NOI - Not Otherwise Indexed.
NOIBN - Not Otherwise Indexed by Name.
Nomenclature of the Customs Cooperation Council - The Customs tariff used by most countries worldwide. It was originally known as the Brussels Tariff Nomenclature and is the basis of commodity coding system known as Harmonized System.
Non-Conference Carrier - A steamship company that does not belong to a conference and has therefore greater flexibility when it comes to making rates.
Non-Dumping Certificate - Required by some countries for protection against the dumping of certain types of merchandise or products.
Non-Temporary Storage (NTS) - Long-term storage. This is only authorized under specific circumstances, such as some overseas assignments or retirement.
NOS (Not Otherwise Specified) - Abbreviation indicating an article in general class is consolidated freight classification.
Nose - Front of a container or trailer. Opposite end from the tail.
Notice of Arrival - On arrival of freight at destination, notice is promptly sent to consignee showing number of packages description of articles, route, rate, weight, car initial and number, amount of freight charges station where delivery will be made and time allowed for removal before demurrage/storage charges accrue.
Notify Address - Address listed on the transportation document to which the carrier is to give notice when goods are due to arrive.
Notify Party - The name and address of a party (usually the buyer or his/her agent) in the transport document who is to be notified by the shipping company of the arrival of a shipment.
N.P.C.F.B. - North Pacific Coast Freight Bureau.
NVOCC - An acronym meaning Non-Vessel operating Common Carrier. A cargo consolidator of small and medium ocean shipments in ocean transportation that acts as a carrier but does not directly own any vessels.