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Glossary

 

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M100

Mazut 100 - see Fuel Oil

 

Mail Transfer

Payment instruction sent by airmail from one bank to another.

 

Marine Bill of Lading

Bill of lading for shipment by sea.
 

Marine Bill of Lading - Negotiable / Order

The carrier delivers to anyone the shipper or consignee so orders. “Consigned to order of...(name)” (i.e., someone other than buyer, perhaps freight forwarder or customs agent).

 

Marine Bill of Lading - Straight

The carrier delivers to the consignee (buyer). “Consigned to...(name)”. A straight bill of lading is not negotiable. Only the consignee can obtain the goods.

 

Marine Insurance

An insurance that will compensate the owner of goods transported overseas in the event of loss that cannot be legally recovered from the carrier.

 

Marketing Survey

Report that provides a narrative description and assessment of a particular market along with relevant statistics. The reports are often based on original research conducted in the countries studied and may include specific information on both buyers and competitors. 

 

Maturity Date

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

MDB: Multilateral Development Bank

An institution created by a group of countries to provide development-related financing and professional advising. 

 

MDO 

Marine Diesel Oil

 

MFO

Marine Fuel Oil

 

MFPA 

Master Fee Protection Agreement

 

MGO 

Marine Gas Oil

 

MMBTU 

Million British Thermal Units

 

MMT 

Million Metric Tonnes

 

MOQ 

Minimum Order Quantity

 

MOU 

Memorandum of Understanding

 

MT 

Metric Tonne

 

MT103 

see SWIFT

 

MT760 

see SWIFT

MT799 

see SWIFT

 

Multi-Modal Bill of Lading

A bill of lading used when more than one mode of transport is involved in a shipment, for example when a consignment travels by rail and by sea. Also called a combined transport or intermodal bill of lading.

 

 

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