-
m
- meter
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M A R form
- The standard of marine insurance policy used in the London market by both
Lloyd's and companies
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M. & D.P.
- Minimum and deposit premium
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M. & W.
- Marine and war risks
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m. pack
- Missing package
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M.A.V.I.S.
- Marine Audio-Visual Instruction Systems
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M.B.D.
- Machinery breakdown
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M.C.
- Machinery certificate
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M.F.C.
- Maximum foreseeable loss
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M.H.
- Main Hatch
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M.H.W.S.
- Mean High Water Spring
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M.I.P.
- Marine Insurance Policy
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M.L.W.S.
- Mean Low Water Springs
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m.m.
- Made merchantable
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M.M.
- Mercantile Marine
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M.M.A.
- Merchandise Marks Act
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M.N.S.C.
- Managed Network Steering Committee
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M.O.H.
- Medical Officer of Health
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M.P.L.
- Maximum probable loss
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M.R.
- Mate's receipt
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M.S.
- Motor ship, Machinery survey
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M.T.
- Mean Time
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M.T.L.
- Mean tidal level
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M/C
- Metalling clause (marine insurance), Machinery certificate
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M/d
- Malicious damage
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M/D
- Memorandum of deposit
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M/s
- Months after sight
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Maastricht Treaty
- The Maastricht Treaty (named for the Dutch town in which the treaty was
signed) is also known as the Treaty of European Union. The treaty creates a
European Union by: (a) commiting the 12 member states of the European
Economic Community to both European Monetary Union (EMU) and political
union; (b) introducing a single currency (European Currency Unit, ECU); (c)
establishing a European System of Central Banks (ESCB); (d) creating a
European Central Bank (ECB); and (e) broadening EEC integration by including
both a common foreign and security policy (CFSP) and cooperation in justice
and home affairs (CJHA). The treaty, negotiated in 1991 and signed in
February 1992, entered into force on November 1, 1993.The Maastricht Treaty
envisioned EMU being achieved in three stages: - A first stage (encompassing
treaty negotiations and lasting through January 1, 1994) concludes with
ratification of treaty amendments needed to establish EMU, including
participation by all 12 EEC member states in the Exchange Rate Mechanism; -
A second stage (January 1, 1994 through no later than January 1, 1999)
involves establishment of the European Monetary Institute (EMI) to support
development of a single currency (the ecu) and development of the ECB; - A
third stage (starting no later than January 1, 1999) involves irrevocable
fixing of exchange rates and the debut of the ECB with transfer of powers
necessary for administering economic and monetary union. See: European
Central Bank European Currency Unit European Monetary Institute European
System of Central Banks Exchange Rate Mechanism.
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Machy
- Machinery
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Maghreb States
- The Maghreb states include the three nations of Algeria, Morocco, and
Tunisia. The European Community concluded a trade and aid agreement in 1976
with these states. The term Maghreb states sometimes also includes Libya and
Mauritania. The five Maghreb states created the Arab Maghreb Union. See:
Arab Maghreb Union Comite Permanent Consultatif du Maghreb.
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main port
- Port that handles a significant proportion of a country's seaborne trade.
It normally can accommodate many ships and has a wide range of facilities.
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Mal.d.
- Malicious damage
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manifest
- Document containing a full list of a ship's cargo that is extracted from
the bill of lading. A copy, known as the outward manifest is kept with the
Customs authorities at the port of loading. Another copy, known as the
inward manifest is kept at the discharge port.
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Marine Cargo Insurance
- Broadly, insurance covering loss of, or damage to, goods at sea. Marine
insurance typically compensates the owner of merchandise for losses in
excess of those which can be legally recovered from the carrier that are
sustained from fire, shipwreck, piracy, and various other causes. Three of
the most common types of marine insurance coverage are "free of particular
average" (f.p.a.), "with average" (w.a.), and "All Risks Coverage."
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Market Access
- Market access refers to the openness of a national market to foreign
products. Market access reflects a government's willingness to permit
imports to compete relatively unimpeded with similar domestically produced
goods.
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Market Disruption
- Market disruption refers to the situation which is created when a surge of
imports in a given product line causes sales of domestically produced goods
in a particular country to decline to an extent that the domestic producers
and their employees suffer major economic hardship.
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Marks of Origin
- The physical markings on a product that indicate the country of origin
where the article was produced. Customs rules require marks of origin of
most countries.
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MC
- Minister Counsellor
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MDBs
- Multilateral Development Banks
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Mdse.
- Merchandise
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Memoranda of
Understanding
- See: International Agreements.
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Mercado Com£n
Centroamericano
- See: Central American Common Market.
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Merchandise Trade
Balance -
See: Balance of Payments.
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merchant
- Term often used in liner bills of lading to describe the shipper, receiver
or consignee, bill of lading holder or the agent of any of these.
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merchant marine
- All the ships of a country carrying goods.
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metric ton
- 1,000 kilograms.
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MFA
- Arrangement Regarding International Trade in Textiles (Multifibre
Arrangement)
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MFA
- Multi-Fiber Arrangement
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MFN
- Most Favored Nation Treatment
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MHz
- Megahertz
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MIA
- Marine Insurance Act
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Min. B/L
- Minimum Bill of Landing
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MIN./DEP.
- Minimum and deposit premium
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mixed cargo
- More than one product carried on board a ship.
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Mixed Credit
- Mixed credit refers to the practice of combining concessional and
market-rate export credit as an export promotion mechanism.
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MKR
- Matchmaker Program
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mobile crane
- General purpose crane capable of moving around a port. Some types are
capable of lifting very heavy loads.
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Mort.
- Mortality
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MOSS
- Market-Oriented, Sector-Selective
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Most Favored Nation
Treatment -
A commitment that a country will extend to another country the lowest tariff
rates it applies to any other country. All contracting parties undertake to
apply such treatment to one another under Article I of GATT. When a country
agrees to cut tariffs on a particular product imported from one country, the
tariff reduction automatically applies to imports of this product from any
other country eligible for most-favored nation treatment. This principle of
nondiscriminatory treatment of imports appeared in numerous bilateral trade
agreements prior to establishment of GATT. A country is under no obligation
to extend MFN treatment to another country unless both are bilateral
contracting parties of the General Agreement on Tariffs and Trade or MFN
treatment is specified in a bilateral agreement.
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Most Favored Nation
Treatment (MFN)
- When one country accords another most-favored-nation status, it agrees to
extend that country the same trade concessions it grants to any other MFN
recipients. For example, in the tariff area, goods from a country accorded
MFN status by the U.S. would be assessed the lower column 1 duties in the
U.S. tariff schedule. This concept may apply to non-tariff measures as well.
GATT members have agreed to accord each other MFN status. Preferential
treatment accorded to developing countries, customs unions, and free trade
areas all represent allowable exceptions to the MFN concept.
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MOU
- Memorandum of Understanding
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MPA
- Major Projects Agreement
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MPP
- Market Promotion Program
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MPT
- Ministry of Posts and Telecommunications
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MRA
- Mutual Recognition Agreement
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MSA
- Multilateral Steel Agreement
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mst.
- Measurement
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MT
- Multilateral Trade Organization
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MTAG
- Missile Technology Analysis Group
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MTCR
- Missile Technology Control Regime
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MTEC
- Missile Technology Export Control Group
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MTN
- Multilateral Trade Negotiations
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MTO
- Multimodal transport operator
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Multilateral Agreement
- An international compact in which three or more parties participate.
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