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Notice of Abandonment
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 benefit the underwriter, where the underwriter waives the obligation or in the case of a reinsurance 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. Waiver ClauseConstructive Total Loss
Notice of Readiness
Abbreviation: NOR. 1. Written document or telex issued by the master of a vessel to the charterers advising them the moment when a vessel is ready to load or discharge. 2. Document advising a consignee or their 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
Party to be notified of arrival of goods. Arrival Notice
NTB
Non-Tariff Barriers
NVD
No Value Declared
NVOC
Non Vessel Operating Carrier



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