N

Negotiable/Non-Negotiable

Usually used with regard to Bills of Lading: a negotiable B/L is a valid document of title, while a non-negotiable B/L is not - the beneficiary of a DC (the exporter) may send the importer a non-negotiable B/L for information.

Negotiation

Purchase of drafts under a documentary credit which the issuing bank has undertaken to pay.

Net Weight

The weight of the merchandise before any packaging.

Non-DC Bills

Bills not drawn under DC i.e. sent on a collection basis (D/P or D/

A). In common usage we distinguish between Non DC bills which are financed collections and DCs which are non-financed.

Non-Financed Bills

Bills sent on collection in which the remitting branch has no financial interest.