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Amwelladmin (talk | contribs) (Created page with "===How the business days work for demands under a {{2016csa}}=== This should give you an insight into why lawyers find ISDA documentation so compelling. *A {{csaprov|Transfere...") |
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This should give you an insight into why lawyers find ISDA documentation so compelling. | This should give you an insight into why lawyers find ISDA documentation so compelling. | ||
*A {{csaprov|Transferee}} may demand a {{csaprov|Delivery Amount (VM)}} (Para {{csaprov|2(a)}}) or a {{csaprov|Return Amount (VM)}} Para {{csaprov|2(b)}}) “on or promptly following a {{csaprov|Valuation Date}}”. | *A {{csaprov|Transferee}} may demand a {{csaprov|Delivery Amount (VM)}} (Para {{csaprov|2(a)}}) or a {{csaprov|Return Amount (VM)}} Para {{csaprov|2(b)}}) “on or promptly following a {{csaprov|Valuation Date}}”. | ||
*A {{csaprov|Valuation Date}} means a day on which banks are open in at least one {{csaprov|Valuation Date Location}} for each party. Each party can specify whatever {{csaprov|Valuation Date Location}}s it likes. Tip: the fewer you specifiy, the more likelihood you will be excused from a margin call, so don’t overdo it. | *A “{{csaprov|Valuation Date}}” means a day on which banks are open in at least one {{csaprov|Valuation Date Location}} for each party. | ||
*Any | :*Each party can specify whatever {{csaprov|Valuation Date Location}}s it likes. | ||
:*Tip: the fewer you specifiy, the more likelihood you will be excused from a margin call, so don’t overdo it. One should be ample. | |||
*Any {{csaprov|Delivery Amount (VM)}} or {{csaprov|Return Amount (VM)}} must be made (Para {{csaprov|3(a)}}) by the [[close of business]] on the {{csaprov|Regular Settlement Day}} relating to the date such demand is received (if received before the {{csaprov|Notification Time}} (spoiler - usually 11 am, noon or 1pm)), or the {{csaprov|Regular Settlement Day}} relating to the day after the date such demand is received (if received after the {{csaprov|Notification Time}}). | |||
*'''{{csaprov|Regular Settlement Day}}''' means the same {{csaprov|Local Business Day}} — careful: as defined in the {{2016csa}} — on which the demand is made | *'''{{csaprov|Regular Settlement Day}}''' means the same {{csaprov|Local Business Day}} — careful: as defined in the {{2016csa}} — on which the demand is made | ||
*{{csaprov|Local Business Day}} (under the {{2016csa}}) means, in the case of notices, a day on which banks are open in the address for the notice most recently specified by the Recipient. | *{{csaprov|Local Business Day}} (under the {{2016csa}}) means, in the case of notices, a day on which banks are open in the address for the notice most recently specified by the Recipient. |