Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.
A written notice from the master or agent to the charterer or buyer that the vessel has arrived at the agreed port and is ready in all respects – holds clean, clearances obtained – to load or discharge. A valid NOR is the precondition for laytime to start. A NOR tendered when the ship is not actually ready may be invalid and changes the demurrage calculation, so it should be filed together with hold inspection reports.
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