NdO$_{0.5}$F$_{0.5}$BiS$_{2}$ is a new layered superconductor. We have studied the low-lying electronic structure of a single crystalline NdO$_{0.5}$F$_{0.5}$BiS$_{2}$ superconductor, whose superconducting transition temperature is 4.87K, with angle-resolved photoemission spectroscopy. The Fermi surface consists of two small electron pockets around the X point and shows little warping along the $k_z$ direction. Our results demonstrate the multi-band and two-dimensional nature of the electronic structure. The good agreement between the photoemission data and the band calculations gives the renormalization factor of 1, indicating the rather weak electron correlations in this material. Moreover, we found that the actual electron doping level and Fermi surface size are much smaller than what are expected from the nominal composition, which could be largely explained by the bismuth dificiency. The small Fermi pocket size and the weak electron correlations found here put strong constraints on theory, and suggest that the BiS$_2$-based superconductors could be conventional BCS superconductors mediated by the electron-phonon coupling.
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