|
TERM |
MEANING |
| Negotiable B/L |
Original bill of lading endorsed by shipper that is used for negotiating with banks. |
| Negotiating Bank |
A bank named in the credit; examines the documents and certifies to the issuing bank that the terms are complied with. |
| Net Tonnage |
A vessel's gross tonnage minus deductions of space occupied by accommodation for crew, by machinery, for navigation, by the engine room and fuel. A vessel's net tonnage expresses the space available for passengers and cargo. |
| Net Weight |
Weight of the goods alone without any immediate wrappings, e.g., the weight of the contents of a tin can without the weight of the can. Also called actual net weight. |
| Non-negotiable B/L |
Copy of original bill of lading which cannot be negotiated with the bank. |
| Non-vessel Owning / Operating Common Carrier (N.V.O.C.C.) |
(a) A cargo consolidator of small shipments in ocean trade, generally soliciting business and arranging for or performing containerization functions at the port.
(b) A carrier issuing Bs/L for carriage of goods on vessel which he neither owns nor operates. |
