The most common versions are the BAFT Master Participation Agreement, based on English law, and the International Trade and Forfaiting Association (ITFA) Master Participation Agreement, based on New York law. A Material Transfer Agreement (MTA) is a contract that governs the transfer of research material between two organizations when the recipient intends to use it for research purposes. The MTA defines the rights of the supplier as well as the rights and obligations of the consignee with regard to the materials and any descendants, derivatives or modifications. Biological materials such as reagents, cell lines, plasmids, and vectors are the most frequently transferred materials, but ATMs can also be used for other types of materials such as chemical compounds, mouse models, and even some types of software. The new MPA does not have a separate definition of fraud risks, which is related to the fact that there is no optional character. “We felt that the fraud rules could be adequately addressed elsewhere [in the document],” Wynne said. “There are other clauses that deal with fraud, which require the seller to be required to verify the documents submitted to him – if it becomes so wrong, he would be responsible – and that he must handle the transaction with proper care and attention.” A financial industry association sought clarification, as its members did not believe that risk-sharing arrangements were shared with the underlying swaps. . . .