International Commercial Terms Document - M

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | TU | V | W | X | Y | Z

Market Access: The extent to which a domestic industry can penetrate a related market in a foreign country. Access can be limited by tariffs or other non trade barriers.

Marine insurance: Insurance that compensaes the owner of goods transported at sea in the event of loss that cannot be legally recovered from the carrier.

Master Lease: A contract where the lessee leases currently needed assets and is able to acquire other assets under the same basic terms and conditions without negotiating a new contract.

Maturity date: Date at which payment is due under a term bill of exchange.

Middle Market: A market segment generally represented by financing under $2 million. In leasing this sector is dominated by single investor leases.

Most Favored Nation Treatment (MFN): When one country accords another most-favored nation status, it agrees to extend to that country the same trade concession it grants to other MFN recipients. GATT members have agreed to accord each other MFN status. Preferential treatment accorded developing countries, customs unions and free trade areas all represent allowable exceptions to the MFN concept. This is sometimes now called "Normal Trading Relations."