| N |
| NAFTA |
| North American Free Trade Agreement. |
| National
Association Of Export Companies |
| A nonprofit organization to act as the information provider, support
clearinghouse forum, and advocate for those involved in exporting and servicing
exporters. |
| National
Customs Brokers And Freight Forwarders Association |
| A non-profit organization which serves as the trade organization of
customs brokers and international freight forwarders in the U.S. |
| National Security Controls |
| Restrictions placed on exports of U.S. goods and technology which would
make a significant contribution to the military potential of another country
and thus be detrimental to national security. |
| National Trade Data
Bank (NTDB) |
| An electronic data base which contains international economic and export
promotion information supplied by 15 U.S. governmental agencies. |
| National Treatment |
| National treatment affords foreign individuals and firms the same competitive
opportunities, including market access, as are available to domestic parties. |
| Nationalization |
| Takeover by the government without compensation of a public or private
activity. |
| NCBFAA |
| National Customs Brokers and Forwarders Association of America. |
| Negotiable |
| Anything that can be sold or transferred to another for money or as
payments of a debt. |
| Negotiable Bill of Lading |
| Bill of lading transferred by endorsement. |
| Negotiable Warehouse
Receipt |
| A certificate issued by an approved warehouse that guarantees the existance
and the grade of a commodity held in store. |
| Nested |
| Packed one within another. |
| Net Cash |
| Payment for goods sold usually within a short period of time with no
deduction allowed from the invoice price. |
| Net National Product |
| The market value of the net output of goods and services produced by
the nation's economy. |
| Net Price |
| Price after all discounts, rebates, etc have been allowed. |
| Net Weight |
| The weight of goods without packaging. |
| Neutral Air Waybill |
| A standard air waybill without identification of issuing carrier. |
| NII |
| National Information Infrastructure Task Force. |
| No Show |
| Freight that has been booked to a ship, but has not physically arrived
in time to be loaded to that ship. |
| Notary Public |
| A person commissioned by a state for a stipulated period to administer
certain oaths and to attest and certify documents. |
| Notify Address |
| Address mentioned in the transport document to which the carrier is
to give notice when goods are due to arrive. |
| Notify Party |
| Name and address of a party in the transport document to be notified
by the shipping company of the arrival of a shipment. |
| NPR |
| National Performance Review. |
| NTDB |
| National Trade Data Bank: A data base used as the central collection
point for US government generated export promotion information.. |
| Nuclear Energy Agency |
| Promotes the safe and effective use of nuclear energy through the exchange
of information among technical experts, the sharing of analytical studies,
and undertaking joint research and development projects by member countries. |
| Nuclear Regulatory
Commission (NCR) |
| A U. S. agency which regulates the transfer of nuclear facilities,
materials and parts with uniquely nuclear applications. |
| O |
| Ocean Bill of Lading |
| A receipt for the cargo and a contract for transportation between a
shipper and the ocean carrier. |
| Offer |
| A proposal that is made to a certain individual or legal entity to
enter into a contract, that is definite in its terms, and that indicates
the offeror's intent to be bound by an acceptance. |
| Office Of Export
Licensing (OEL) |
| An agency under the Bureau of Export Administration that administers
export licenses. |
| Office Of Management
And Budget |
| An executive office of the President which evaluates, formulates and
coordinates management procedures and program objectives within and among
federal departments an agencies. It also controls the administration of
the federal budget. |
| Official Development
Assistance |
| Financial flows to developing countries and multilateral institutions
provided by official government agencies. |
| Offshore |
| A reference to financial operations transacted outside the country
in question. |
| Offshore Bank |
| Bank located outside the country in question. |
| Offshore Banking Center |
| Financial center where many of the financial institutions have little
connection with that country's finacial system; usually done for tax purposes. |
| Old-To-Market |
| A committed to export, experienced, larger scale firm with export sales
volume in excess of 15%. |
| On Board |
| "Notation on a bill of lading indicating that the goods have been loaded
on board of shipped on a named ship. In the case of received for shipment
bills of lading, the following four parties are authorized to add this
"on board" notation: (1) the carrier, (2) the carrier's agent, (3) the
master of the ship, and (4) the master's agent." |
| On Deck |
| Notation on a bill of lading which indicates that the goods have been
loaded on the deck of the ship. |
| On Deck Bill Of Lading |
| Bill of lading containing the notation that goods have been placed
on deck. |
| Open Account |
| Credit extended that is not supported by a note, mortgage, or other
formal written evidence of indebtedness. |
| Open Conference |
| A shipping conference in which there are no restrictions upon membership
other than ability and willingness to serve the trade. |
| Open Economy |
| An economy free of trade restrictions. |
| Open-End Contract |
| An agreement by which the buyer may purchase goods from a seller for
a certain time without changes in the price or the contract terms. |
| Operator |
| A corporation that operates a foreign trade zone under the terms of
an agreement with a foreign trade zone grantee. |
| Order |
| A request to deliver, sell, receive, or purchase goods or services. |
| Order Bill |
| A bill of lading that states that goods are consigned to the order
of the person named in the bill. |
| Order Notify |
| A bill of lading term to provide for surrender of the original bill
of lading before freight is surrendered. |
| Outright |
| A forward purchase or sale of foreign exchange which is not offset
by a corresponding spot transaction. |
| Outward Swap |
| Spot purchase of foreign exchange and forward resale of the same currency
against domestic currency. |
| Over the Counter |
| Securities trading which takes place outside the normal exchanges. |
| Overnight |
| Swap from settlement date until the following business day. |
| P |
| Packing List |
| A document prepared by the shipper listing the kinds and qualities
of merchandise in a particular shipment. |
| Pallet |
| A platform with or without sides, on which a number of packages or
pieces may be loaded to facilitate handling. |
| Pallet Loader |
| A device employing one or more vertical lift platforms for the mechanical
loading or unloading of palletized freight at planeside. |
| Pallet Transporter |
| A vehicle for the movement of loaded pallets between the aircraft and
the freight terminal. |
| Palletizing |
| The loading and securing of a number of sacks, bags, boxes or drums
on a pallet base. |
| Par Balue |
| The official fixed exchange rate between two currencies or between
a currency and a specific weight of gold. |
| Par Exchange Rate |
| The free market price of one country's money in terms of the currency
of another. |
| Par Of Exchange |
| The market price of money in one national currency that is exchanged
at the official rate for a specific amount in another national currency,
or another commodity of value (gold, silver, etc.). |
| Parcel Post Air Freight |
| An airline service through which a shipper can consolidate a number
of parcel post packages, with destination postage affixed by the shipper,
for shipment as air freight to the postmaster at another city for subsequent
delivery within local postal zones or beyond. |
| Parent Bank |
| A bank in a major industrial country that sets up a subsidiary in a
developing country. |
| Parity |
| Equality in amount or value. |
| Parol |
| Oral expression. A parol contract is one that is verbal only and that
has not been put into writing by the parties. |
| Partnership |
| An unincorporated business owned and operated by two or more persons,
who may have general or limited liability according to the agreement of
the partnership. |
| Patent |
| A grant by law to an inventor of a device of the right to exclude other
persons from making, using, or selling the device. |
| Payable In Exchange |
| The requirement that a negotiable instrument be paid in the funds of
the place from which it was originally issued. |
| Payee |
| The person or organization to whom a check or draft or note is made
payable. |
| Payer |
| The party primarily responsible for the payment of the amount owned
as evidenced by a given negotiable instrument. |
| Payments Surplus |
| The excess of the value of a nation's exports over its imports. |
| Penalties |
| The charges assessed or action taken by customs in response to a violation
of a customs-enforced regulation or law. |
| Performance |
| The proper fulfillment of a contract or obligation. |
| Peril Point |
| A hypothetical limit beyond which a reduction in tariff protection
would cause serious injury to a domestic industry. |
| Perishable Freight |
| Freight subject to decay or deterioration. |
| Petrodollars |
| Huge sums of money from oil-producing nations other than the United
States or Great Britain. |
| Phytosanitary
Inspections Certificate |
| A certificate issued by the U.S. Department of Agriculture indicating
that a U.S. export shipment has been inspected and is free from harmful
pests and plant diseases. |
| Pickup and Delivery Service |
| An optional service for the surface transport of shipments from shipper's
door to originating carrier's terminal and from the terminal of destinaiton
to receiver's door. |
| Pickup Order |
| An order from a broker to a carrier to pick up freight at a location. |
| Pier-to-Pier |
| Shipment of cargo by carrier from orgin pier to discharge pier. |
| Piggyback |
| The transportation of truck trailers and containers on specially equipped
railroad flat-cars. |
| Pilferage |
| The loss of goods due to steady theft in small amounts. |
| Pilot |
| A person whose occupation is to steer ships, particularly along a coast,
or into and out of a harbor. |
| Plimsoll Mark |
| The horizontal line on the outside of a ship which represents the depth
to which a vessel may be safely loaded; this mark must stay above the water
surface. |
| Point of Origin |
| The location at which a shipment is received by a transportation line
from the shipper. |
| Point-to-Point |
| Represents service and rates for shipments in door-to-door service. |
| Port |
| A harbor or haven where ships may anchor and discharge or receive cargo. |
| Port Charge |
| A charge made for services performed at ports. |
| Port of Discharge |
| The port at which a shipment is off loaded by a transportation line. |
| Port of Entry |
| A port at which foreign goods are admitted into the receiving country. |
| Port of Export |
| The port, airport, or customs point from which an export shipment leaves
a country for a voyage to a foreign country. |
| Port-of-Origin
Air Cargo Clearance |
| U.S. Customs clearance at inland airports to facilitate the procedures
before they reach a gateway point. |
| Portfolio Investment |
| In general, any foreign investment that is not direct investment is
considered portfolio investment. |
| Post-Shipment Verifications |
| An inspection to determine that an exported strategic commodity is
being used for the purposes for which its export was licensed. |
| Postdated Check |
| A check bearing a date that has not yet arrived. |
| Pre-License Checks |
| Checks that are conducted to determine that a request for a license
to export a controlled commodity represents a legitimate order. |
| Preferences |
| A creditor's right to be paid before other creditors of the same debtor. |
| Premium |
| The amount above a regular price, paid as incentive to do something. |
| Prepaid |
| A notation on a shipping document indicating that shipping charges
have already been paid by the shipper to the carrier. |
| Prepaid Charges |
| The transportation trade practice under which the shipper pays transportation
charges. |
| Price Support |
| Subsidy or financial aid offered to specific growers, producers, or
distributors, in accordance with governmental regulations to keep market
prices from dropping below a certain minimum level. |
| Priority Air Freight |
| Reserved air freight or air express service wherein shipments have
a priority after mail and the small package services. |
| Private Corporation |
| A business corporation with shares that are not traded among the general
public. |
| Procurement and Lead Time |
| The time required by the buyer to select a supplier and to place and
obtain a commitment for specific quantities of materials at specified times. |
| Product Groups |
| Commodity groupings used for export control purposes. |
| Productivity |
| A measurement of the efficiency of production. |
| Project License |
| A U.S. license which authorizes large-scale exports of a wide variety
of commodities and technical data for specified activities. |
| Promotional Rate |
| A rate applying to traffic under special conditions and usually confined
to movement between a limited number of cities. |
| Proof of Delivery |
| Information provided to payor containing name of person who signed
for the package with the date and time of delivery. |
| Proprietor |
| A person who has an exclusive right or interest in property or in a
business. |
| Proprietorship |
| A business owned by one person. |
| Protectionism |
| The deliberate use or encouragement of restrictions on imports to enable
relatively inefficient domestic producers to compete successfully with
foreign producers. |
| Protective Service |
| Many airlines offer a protective service where shippers can arrange
to have their shipments under carrier surveilance at each stage of transit. |
| Protective Tariff |
| A duty or tax on imported products to make them more expensive in comparison
to domestic products. |
| Protest |
| The means by which an importer, consignee, or other designated party
may challenge a customs decision. |
| Public Corporation |
| A business corporation with shares traded among the general public,
such as through a stock exchange. |
| Published Rate |
| The charges for a particular class of cargo as published in a carrier's
tariff. |
| Purchase Order |
| A purchaser's written offer to a supplier formally stating all terms
and conditions of a proposed transaction. |
