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NAFTA
Categories:
  • Term/Acronym
  • Treaty/Convention/Agreement
  • U.S. Export-Related
  • U.S. Import-Related
  • Multilateral/International
  • Country/Regional
North American Free Trade Agreement (NAFTA) -- a preferential trade agreement among Canada, Mexico and the United States covering trade in goods, technical barriers to trade, government procurement, investment, services and related matters, intellectual property, administrative, institutional and other provisions. The objectives of NAFTA are to eliminate barriers to trade, facilitate the cross-border movement of goods and services, promote conditions of fair competition, increase investment opportunities, provide adequate and effective protection and enforcement of intellectual property rights, create effective procedures for the implementation and application of this agreement, and to establish a framework for further trilateral, regional and multilateral cooperation to expand and enhance the benefits of this agreement within the territories of the signatory countries.

U.S. Trade Representative (USTR)

   

NAFTA Certificate of Origin
Categories:
  • Term/Acronym
  • Treaty/Convention/Agreement
  • Document
  • U.S. Export-Related
  • U.S. Import-Related
  • Country/Regional
A NAFTA Certificate of Origin must be filled out to obtain preferential tariff treatment for export to or import from Canada and Mexico. The document must be completed legibly and in full by the exporter and be in the possession of the importer at the time the declaration is made. This document may also be completed voluntarily by the producer for use by the exporter.A NAFTA Certificate of Origin should only be completed for products exported to Canada or Mexico that meet the NAFTA rules of origin of production in the NAFTA countries. Inclusion of products that do not qualify is illegal and subject to fines and penalties. An importer must submit to customs a NAFTA Certificate of Origin completed by the exporter in order to be eligible for preferential tariff rates. By filling out a NAFTA Certificate of Origin, a shipper is certifying that the covered goods meet the rules of origin, and therefore, qualify for preferential rates. If the product does not qualify for NAFTA tariff preferences, the Certificate must not be completed, as the product is then usually subject to the Most Favored Nation (MFN) tariff rate, rather than the NAFTA rate.

U.S. Trade Representative (USTR)

   

NATAP
Categories:
  • Term/Acronym
  • U.S. Import-Related
  • Country/Regional
  • Compliance System/Process
North American Trade Automation Prototype. Although the North American Free Trade Agreement (NAFTA) has been amply criticized, the treaty has had its triumphs. One of these is the ongoing cooperation among the party nations' customs administrations. Trilateral cooperation under NAFTA has led to the development of a demonstration project called the North American Trade Automation Prototype (NATAP). NATAP is designed to show how the flow of goods between NAFTA nations could be standardized and processed in an electronic environment, enabling the seamless movement of cargo across NAFTA borders.



   

National Treatment
Categories:
  • Term/Acronym
  • U.S. Import-Related
National treatment: Treating foreigners and locals equally.Imported and locally-produced goods should be treated equally — at least after the foreign goods have entered the market. The same should apply to foreign and domestic services, and to foreign and local trademarks, copyrights and patents. This principle of “national treatment” (giving others the same treatment as one’s own nationals) is also found in all the three main WTO agreements (Article 3 of GATT, Article 17 of GATS and Article 3 of TRIPS), although once again the principle is handled slightly differently in each of these. National treatment only applies once a product, service or item of intellectual property has entered the market. Therefore, charging customs duty on an import is not a violation of national treatment even if locally-produced products are not charged an equivalent tax.

World Trade Organization

   

Nationalization
Categories:
  • Term/Acronym
  • Foreign Import-Related
Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the public ownership of a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being state operated or owned by the state. The opposite of nationalization is usually privatization or de-nationalisation, but may also be municipalization. A renationalization occurs when state-owned assets are privatized and later nationalized again, often when a different political party or faction is in power. A renationalization process may also be called reverse privatization.



   

Negotiable Bill of Lading
Categories:
  • Term/Acronym
  • Document
  • U.S. Export-Related
A bill of lading (B/L) that can be transferred by its consignee to a third party by signing (endorsing) and delivering it to another party (the new consignee). The new consignee can then transfer it to another party ... and so on. To be negotiable a B/L must be written (drawn) 'To Order' of the consignee and must be clean. Any B/L that does not fulfill these two conditions is termed non-negotiable.



   

NIL
Categories:
  • Term/Acronym
  • Law/Act/Regulation
  • U.S. Import-Related
National Importer Liquidation (NIL). Under the National Importer Liquidation (NIL) program, an importer can request that all courtesy notices be sent to a specific ABI participant who is an entry filer. Importers requesting this service must submit a Hold Harmless Agreement to Customs.

U.S. Customs and Border Protection (CBP)

   

North American Agreement on Environmental Cooperation
Categories:
  • Term/Acronym
  • Treaty/Convention/Agreement
  • Country/Regional
North American Agreement on Environmental Cooperation Between the Government of Canada, the Government of the United Mexican States and the Government of the United States of America

Commission for Environmental Cooperation

   

NOS
Categories:
  • Term/Acronym
  • U.S. Export-Related
  • U.S. Import-Related
  • Standard (Technical/Health/Safety)
NOS - Not Otherwise Specified: Items that cannot be specified under any of the available classifications or headings in a schedule or tariff. Also called not elsewhere specified (NES).



   

NRC
Categories:
  • Term/Acronym
  • Organization/Agency/Entity
  • U.S. Export-Related
  • Product-Specific
The U.S. Nuclear Regulatory Commission (NRC) was created as an independent agency by Congress in 1974 to enable the nation to safely use radioactive materials for beneficial civilian purposes while ensuring that people and the environment are protected. The NRC regulates commercial nuclear power plants and other uses of nuclear materials, such as in nuclear medicine, through licensing, inspection and enforcement of its requirements

Nuclear Regulatory Commission

   

NVOCC
Categories:
  • Term/Acronym
  • Organization/Agency/Entity
  • U.S. Export-Related
Non vessel owning common carrier (NVOCC) is that which consolidates and disperses international containers that are mainly bound for inland ports. An ocean carrier which does not own or operate their own vessels is known as non vessel owning common carrier. They use less than full container loads which they ship on actual ship lines. Non vessel owning common carriers issue their own bills of lading and are backed up actual on board ocean bills that are issued to them by the other carriers. In the US, cargo transportation is characterized as the heart of all activity where cargo terminals concentrate on a group of actions that includes transfer of bulk goods from one ship to another or prepare received shipments for local delivery etc. Similarly, non vessel owning common carriers also have their functions to complete that are extremely vital for smooth sailing of all operations.



   


 
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