Glossary of Terms - N

Negotiable

Transferable for value by delivery or endorsement. Used popularly as equivalent to transferability.

Non Vessel Operating Common Carrier (NVOCC)

A party who undertakes to carry goods and issues in his own name a Bill of Lading for such carriage, without having the availability of any own means of transport.

Notice of Readiness

Written document or telex issued by the master of a vessel to a charterer advising them the moment when a vessel is ready to load or discharge.
Document advising a consignee or his agent that cargo has arrived and is ready for delivery.

Notify Address

Address of the party other than the consignee to be advised of the arrival of the goods.

Notify Party

The party to be notified of arrival of goods.