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.
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