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1.
Mandard is often used an an alternative to the modern word "standard". It is a phrase only to be used by men or a man (hence man-dard). It is used to describe scenarios which are manly and either satisfying or comical. It can however be used with multiple meanings, so to substitute for a range of other adjectives in order to describe events such as 'cool' or 'awesome' etc.

Commonly used by rugby players in particular for banterous events/times. A further meaning is to use it when describing a certain high level of drunkness.
Person 1: "hey man I was so drunk last night did you have a good time as well?"
Person 2:" Yea mate it was pretty mandard"

or

The Rugby game I watched today was quite mandard
or

Let's get Mandard on cider tonight lads
by DLMandard August 22, 2012
 
2.
Men's standards for women they would date
that chick is way below my mandards but she may fit in yours Bro
by GenericBob & Oicu81 June 03, 2011