Complete Glossary of
Marine Terms & Abbreviations
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Nail To Nail
A term used in transit insurance on such interests as paintings. The term denotes that the insurance attaches when the painting is removed from the wall fastening for transit and terminates when the painting is fastened to the wall at the destination specified in the policy.
Name
An underwriting member at Lloyd's, who grouped into underwriting syndicates.
Natural loss
Natural loss in weight.
In the case of liquid cargoes this is synonymous with natural leakage or trade ullage. In the case of solid cargoes it is usually due to shrinkage or drying out of moisture from changes in temperature. Potatoes are particularly susceptible to natural loss in weight. Since this is an inevitability and not a fortuity it is not covered under the term loss in weight unless this is qualified with "from any cause whatsoever" or a similar term. It is usual specifically to exclude loss in weight from insurances covering deterioration risks.
Negligence Clause
This clause was introduced to hull policies in 1888 following the decision in the case Hamilton Fraser & Co v Thames & Mersey
It is frequently termed the Inchmaree Clause after the name of the vessel involved in the case. The clause has been amended several times and is incorporated in the standard hull clauses (I.T.C.). It extends the policy perils by adding further perils in two sections (a) and (b).
Nesting
Packing hollow-ware cargo (e.g. earthenware bowls) so that one item nests within another. Paper or straw may be used to separate each item and avoid damage.
Net Tonage
This is the gross tonnage of a ship less the machinery, boiler and bunkers, crew and stores spaces.
New for Old
When new material or parts replace damaged material or parts during repairs to a ship underwriters are entitled to make a deduction from the claim as a result of betterment.
No Cure, No Pay
A principle of pure salvage. To entitle a salvor to a salvage award property of value must be saved in order that it may pay the award. If it is not saved there is no award.
It is not necessary that the property arrives at its final destination, only that the salvor brings it to a place of safety where the owner may take possession of it on payment of the salvage award. Lloyd’s Salvage Agreement is on the principle of "no cure, no pay".
No Value Declared (NVD)
A notation on air waybill which indicates that no specific value has been declared to the carrier for carriage of the merchandise. Liability of the carrier would therefore be as defined by statute or as incorporated in the waybill. Same as a Released Bill.
Non Delivery
Disappearance of an entire shipping package rather than the contents them¬selves or a portion of the contents.
Non Disclosure
The failure of the insured or their broker to disclose a material circumstance to the underwriter before acceptance of the risk. A breach of good faith.
Non-Separation Agreement
When a ship puts into a port of refuge to effect repairs which are the subject of a general average act the shipowner may discharge the cargo, or part thereof, and arrange for it to be transshipped to another vessel for onward carriage. Once the ship and cargo separate they become separate entities so far as subsequent general average loss and expenditure is concerned so that the cargo could not be called upon to contribute in general average to the additional expenditure incurred by the carrier.
For protection, the carrier will incorporate a clause in his contract of affreightment whereby the cargo owner agrees that such separation shall not affect any rights to general average contribution which the shipowner would have had under Rule XI of the York-Antwerp Rules but for the separation of the interests in the adventure.
Non Vessel Operating Common Carrier (NVOCC)
A firm that offers the same services as an ocean carrier. They usually con¬solidate several small shipments into full containers and arrange transporta¬tion by ocean common carriers. They are subject to the same laws and stat¬utes as apply to a primary common carrier. A Carrier issuing bills of lading for carriage of goods on vessels which he neither owns nor operates.
Normal Course of Transit
The orderly transit of merchandise from the point of origin to the final desti¬nation without interruptions or delays resulting from the action or inaction of any party at interest.
Notice of Abandonment
A condition which must precede a constructive total loss. If the insured fails to give notice to the underwriter, the loss can be treated only as a partial loss unless an actual total loss is proven. An underwriter who accepts notice admits liability for the loss. Notice is not necessary where it would not ben¬efit the underwriter, where the underwriter waives the obligation or in the case of a re insurance provided the policy incorporates the "waiver" clause, action taken by an underwriter to prevent or reduce the loss is not deemed to be an acceptance of abandonment.
Not To Inure Clause
A clause in a cargo policy stating that the policy shall not inure to the benefit of a carrier or other bailee. The intention is to deny the right of carriers to benefit from the insurance when they claim such a right in the contract of carriage.
Clause 15 in the Institute Cargo Clauses (A), (B) and (C).
Notary Public
An official certified to take affidavits and depositions from members of the public.
Notice Of Claim Against Carrier
When there is apparent damage to goods on discharge the consignee must give notice of the damage in writing to the carrier or his agent at the port of discharge before or at the time of removal of the goods into the custody of the person entitled to take delivery of them.
It is the duty of the consignee to carry out an immediate examination of the goods on discharge or as soon as practicable thereafter, but in any case notification of damage which is not immediately apparent must be given to the carrier within 3 days of discharge.
Notice need not be given if the survey is a joint survey.
Failure to observe these principles will exclude the carrier from liability.
NVO(C)C Non Vessel-Owing/Operating (Common) Carrier
A Carrier issuing bills of lading for carriage of goods on vessels which he neither owns nor operates.
N.A.
Net absolutely. Not available. Not applicable
N.C.A.D.
Notice of cancellation at anniversary date
N.C.D.
No-claim discount
N.C.V.
No commercial value
N.E.
Not entered
N.E.P.
Net earned premiums
N.G.A.D.
Notice given arrival date
n.r.a.d. or NRAD
A carriage of goods conditions meaning "no risk after discharge" whereby the carrier is free from liability as from the time the goods are discharged.
An insurer may also use this abbreviation on a slip where he does not wish to undertake the risk at a certain unsavoury destination.
In the absence of the abbreviation most cargo insurances would continue after discharge until delivery in accordance with the transit clause.
n.r.a.l.
No risk after landing
n.r.a.s.
No risk after shipment
N.R.T.
Net registered tonnage
n.r.t.b.
No risk until on board
n.r.t.o.r.
No risk until on rail
n.r.t.w.b.
No risk until waterborne
n.s.p.f.
Not specially provided for
N.T.U.
Not taken up
N.U.R.
Not under repair
N.W.P.
Net written premiums
N/E or n.e.
Not exceeding