Pronunciation: [key] not elsewhere classified.

What NEC means?

National Electrical Code (NEC) is a set of regularly updated standards for the safe installation of electric wiring in the United States. First published in 1897, the NEC is updated once every three years.

What does NEC mean in banking?

An NEC, or a non-encumbrance certificate is issued to ensure that there is no encumbrance on the property that a person is offering to the bank as security. This implies that the property in question is not associated with any other bank for a loan and entirely belongs to the person.