Residential, Commercial Moving & Storage Glossary | N | Matco Moving Solutions
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Narrative Appraisal Report

A report detailing the reasoning behind an appraiser's estimate of value.

Negative Amortization

A reversal of amortization whereby a loan's unpaid principal balance increases because payments made to the loan do not cover the full amount of interest due.

Net Weight

The actual weight of a shipment obtained by subtracting the tare weight from the gross weight.

New Products (NP)

Unfinished items to be transported to manufacture a completed product or finished items that do not come under the classification of the special products tariff.

Nonconforming Use

Property use that was once acceptable but now is prohibited by zoning laws.

Nonliquidity Rate

A charge for time needed to turn real estate into cash.

Non-Vessel Operating Common Carrier (NVOCC)

Combines or consolidates small less-than-container load shipments or orders of one or more customers by stowing such cargo into steamship containers.

Normal Destination Service

Delivery to and unpacking at a single family residence occupying a single ground floor, with such residence readily accessible from a public thoroughfare, with unpacking performed at the time of the initial delivery to the residence and applicable removal of any packing materials, dunnage, debris, at that time. Any services not falling within this description would be considered non-standard and would necessitate additional charges to the customer for the services rendered.

Normal Origin Service

The proper preparation of a household goods shipment at the origin residence, with such residence readily accessible from a public thoroughfare; the containerization of the goods, with such containerization being performed either at the origin residence or at the warehouse of the origin agent, dependent upon applicable procedures or commitments made for the handling of a specific shipment.

Note

A written promise and acknowledgement to pay a debt by a specified time. Also called Promissory Note or Installment Note.

Notification Address

Destination address of customer for contact.

Notification of Delay

Matco Moving Solutions advises the customer that the shipment will be late, along with the reason for delay, the last known location and the new dates set by Matco. Also called Extensions.