Glossary

A complete glossary of terms for international trade on Exporting and Importing.
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

NAS (National Advice Service)

National Advice Service is run by HM Revenue and Customs and can be contacted on 0845 0109000.

NCV (No Commercial Value)

Goods which are being sent abroad as samples or are not being charged for often need an invoice that declares that they have no commercial value. This invoice should show a value for customs purposes only.

Negotiation (Drafts or Bills of Exchange)

Negotiation is the purchase of drafts under a Letter of Credit which the issuing bank has undertaken to pay.

NES UK (Export Customs Declaration formally New Export System)

NES is an electronic based system that enables exporters/agents to send their export declarations to HM Revenue & Customs electronically.

Notary Public

A notary public is a public officer (often a solicitor) constituted by law to serve the public in non-contentious matters usually concerned with estates, deeds, powers-of-attorney, and foreign and international business. A notary's main functions are to administer oaths and affirmations, take affidavits and statutory declarations, witness and authenticate the execution of certain classes of documents, take acknowledgments of deeds and other conveyances, protest notes and bills of exchange, provide notice of foreign drafts, prepare marine.

NVOCC (Non Vessel Owning Common Carrier)

Designation for a shipment consolidator or freight forwarder who does not own any vessel, but functions as a 'carrier' by issuing its own bills of lading or air waybills and assuming responsibility for the shipments.

NWT (Nett Weight)

The weight of the goods less the packaging.