Best definition
this is an acronym for the phrase, Never On Time But Always In Time. It refers to the idea that

everything does not have to happen just so. Sometimes you have to allow for flexibility. Punctual people do not like the idea of notbait. If an event starts at 7:00 and you get there just as it is getting underway at 7:10, you are not late, you are notbait.
Just in time. Having something ready, not when they WANT it, but just before they NEED it

the train is leaving in 5 minutes…why isn’t Dave here?

Don’t worry, he’ll be here. He is Notbait.
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