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

NCV (No Commercial Value)
Often used in Import Customs Entries to describe samples etc. However, in reality Customs tend not to accept that an item has no value.  This can be overcome by indicating a notional value, say  $1.00.

Negotiation Credit
A letter given by a bank advising a manufacturer or seller that the bank is authorized to accept and negotiate drafts drawn on a specified customer without liability on the part of the bank, usually for a stated amount and liable to withdrawal at any time.

Net Weight
The weight of goods excluding all packaging, or cases.

NICs (Newly Industrializing Countries)
A term coined by the Organization for Economic Cooperation and Development to describe those relatively advanced developing nations that have enjoyed rapid economic growth in recent years and can be described as middle-income countries. Examples include Brazil, Hong Kong, South Korea, Mexico, Singapore, and Taiwan. Newly industrializing countries are sometimes referred to as newly industrializing economies (NIEs).

NME (Non-market Economy)
A national economy in which the government seeks to determine economic activity largely through a mechanism of central planning, as in the former Soviet Union, in contrast to a market economy, which depends heavily upon market forces to allocate productive resources. In a non-market economy, production targets, prices, costs, investment allocations, raw materials, labour, international trade, and most other economic aggregates are manipulated within a national economic plan drawn up by a central planning authority. Hence, the public sector makes the major decisions affecting demand and supply within the national economy

Nominal Tariff Rate
The rate of duty charged on the gross value of a given product, rather than on the value of its components

Non Stat
An expression used in a Custom’s Entry, when the quantity is of insufficient amount to be deemed to affect Custom’s statistics.

NTBs (Non-tariff Barriers)
Government measures other than tariffs that restrict imports or that have the potential for restricting international trade, even though they may not always do so. NTBs include import monitoring systems and variable levies, as well as measures that are internationally perceived as trade restrictive, even though a trade-restricting intent or effect cannot objectively be ascribed to them. Such measures have become relatively more conspicuous impediments to trade as tariffs have been reduced during the period since World War II.

NV (Normal Value)
The price at which merchandise is sold or offered for sale in the principal markets of the country from which it is exported.

NVOCC (Non Vessel Operating Carrier)
Often used to describe a major sea freight Forwarder shipping large and frequent shipments to specific ports, but does not own their own ship.