Template:Isda 3(a) general: Difference between revisions

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Created page with "==={{isdaprov|3(a)(v)}} {{isdaprov|Obligations Binding}}=== '''“any {{isdaprov|Credit Support Document}} to which it is a party”''': Business at the front; party at the ba..."
 
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==={{isdaprov|3(a)(v)}} {{isdaprov|Obligations Binding}}===
==={{{{{1}}}|3(a)(v)}} {{{{{1}}}|Obligations Binding}}===
'''“any {{isdaprov|Credit Support Document}} to which it is a party”''': Business at the front; party at the back.  
'''“any {{{{{1}}}|Credit Support Document}} to which it is a party”''': Business at the front; party at the back.  


Now given that a {{isdaprov|Credit Support Document}} will generally be a deed of [[guarantee]], [[letter of credit|Letter of Credit]] or some other third party form of credit assurance from a, you know, ''third party'' to which a Party in whose favour it is provided will not ''be'' a “party” — and no, an {{csa}} is ''not'' a {{isdaprov|Credit Support Document}}, however much it might ''sound'' like one<ref>Of course, the {{nycsa}} ''is'' a {{isdaprov|Credit Support Document}}. Because it just is.</ref>, one might wonder what the point would be of mentioning, in this sub-section, {{isdaprov|Credit Support Document}}s to which a {{isdaprov|Party}} is ''party''.
Now given that a {{{{{1}}}|Credit Support Document}} will generally be a deed of [[guarantee]], [[letter of credit]] or some other third party form of credit assurance from a, you know, ''third party'' to which a Party in whose favour it is provided will not ''be'' a “party” — and no, an {{csa}} is ''not'' a {{{{{1}}}|Credit Support Document}}, however much it might ''sound'' like one<ref>Of course, the {{nycsa}} ''is'' a {{{{{1}}}|Credit Support Document}}. Because it just is.</ref>, one might wonder what the point would be of mentioning, in this sub-section, {{{{{1}}}|Credit Support Document}}s to which a {{{{{1}}}|Party}} is ''party''.


Well — and this might come as a surprise, if you’re an [[ISDA ingénue]]; old lags won’t bat an eyelid — there isn’t much point.
Well — and this might come as a surprise if you’re an [[ISDA ingénue]]; old lags won’t bat an eyelid — there isn’t much point.


But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language, unless you were a ''stone cold bore''?
But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language unless you were a ''stone-cold bore''?


Hang on: Why are you looking at me like that?
Hang on: Why are you looking at me like that?

Revision as of 00:00, 19 April 2020

{{{{{1}}}|3(a)(v)}} {{{{{1}}}|Obligations Binding}}

“any {{{{{1}}}|Credit Support Document}} to which it is a party”: Business at the front; party at the back.

Now given that a {{{{{1}}}|Credit Support Document}} will generally be a deed of guarantee, letter of credit or some other third party form of credit assurance from a, you know, third party to which a Party in whose favour it is provided will not be a “party” — and no, an 1995 CSA is not a {{{{{1}}}|Credit Support Document}}, however much it might sound like one[1], one might wonder what the point would be of mentioning, in this sub-section, {{{{{1}}}|Credit Support Document}}s to which a {{{{{1}}}|Party}} is party.

Well — and this might come as a surprise if you’re an ISDA ingénue; old lags won’t bat an eyelid — there isn’t much point.

But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language unless you were a stone-cold bore?

Hang on: Why are you looking at me like that?

  1. Of course, the 1994 NY CSA is a {{{{{1}}}|Credit Support Document}}. Because it just is.