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

Measurement ton

A space measurement usually 40 cubic feet or one cubic meter. The cargo is assessed a certain rate for every 40 cubic feet of space it occupies. Also known as cargo or freight ton.

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Mediation

An attempt to resolve a dispute through discussions under the auspices of a neutral third party (mediator) where the contending parties are not obliged to accept the offered solution. This is in contrast to binding arbitration, where the contending parties…

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Memorandum of Understanding (MOU)

An informal record, document or instrument that serves as the basis if a future contract. A Memorandum of Understanding between companies is a document like a contract but not binding on the parties, except when confidentiality and non-competition agreements are…

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Merchant┬┤s credit

A letter of credit issued by the buyer himself. Contains no commitment whatever on the part of a bank. See letter of credit.

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