Glossary of Terms

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)