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Glossary of Trade Terms

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N
NAFTA (North American Free Trade Agreement) - A free trade agreement comprising the U.S.A., Canada, and Mexico.

National Carrier - A flag carrier owned or controlled by the state.

Net Terms - Free of charters' commission.

Net Weight (Actual Net Weight) - The 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.

Non-Vessel Operating Common Carrier (NVOCC) - In the United States, a term for an FMC-Iicensed cargo consolidator of shipments in ocean trade, generally arranging for or performing consolidation and containerization functions. In trade lanes that do not include the U.S.A., NVOCC's operate under different rules and governmental licensing may not be a requirement.

NOS - Not Otherwise Specified.

NT - Net Tons.

NVOCC - (See Non-Vessel-Operating Common Carrier)
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