Marauders are a band who may or may not be military in origin. They do not follow any laws, nor do they follow a nation or higher command other than their groups leader.
Mercanaries; these guys most likely will follow some rules of war. They may operate as a legitimate fforce and be subject to the control of a patron be it a community, general, government or what have you, or even who is paying them. They also probably follow a contract as well. They have a chain of command and a organization structure. After all mercanaries are probably professionals who maintain their proffessional demenor and standards whereas a marauder band most likely wouldn't.
Marauders would conduct illegal activities on all levels. Mercs would probably not be involved in many illegal activities.
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