Template:M summ EUA Annex Parties: Difference between revisions
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[[Delivering Party - Emissions Annex Provision|Dear]] old {{icds}} have even managed to make a dog’s breakfast of this, by introducing two terms for the same party, depending on its ''role'' in the {{euaprov|Transaction}}, and the ''type'' of {{euaprov|Transaction}}. | [[Delivering Party - Emissions Annex Provision|Dear]] old {{icds}} have even managed to make a dog’s breakfast of this, by introducing two terms for the same party, depending on its ''role'' in the {{euaprov|Transaction}}, and the ''type'' of {{euaprov|Transaction}}. | ||
One may be either a {{euaprov|Buyer}} or a {{euaprov|Seller}}; in a {{euaprov|Forward}} ,the {{euaprov|Buyer}} always [[Receiving Party - Emissions Annex Provision|receives]] and the {{euaprov|Seller}} always [[Delivering Party - Emissions Annex Provision|delivers]]. | One may be either a {{euaprov|Buyer}} or a {{euaprov|Seller}}; in a {{euaprov|Forward}}, the {{euaprov|Buyer}} always [[Receiving Party - Emissions Annex Provision|receives]] and the {{euaprov|Seller}} always [[Delivering Party - Emissions Annex Provision|delivers]]. | ||
But for an {{euaprov|Option}}, depending on whether it is a {{euaprov|Call}} or a {{euaprov|Put}}, a {{euaprov|Buyer}} may be a {{ | But for an {{euaprov|Option}}, depending on whether it is a {{euaprov|Call}} or a {{euaprov|Put}}, a {{euaprov|Buyer}} may be a {{euaprov|Delivering Party}} or a {{euaprov|Receiving Party}}. | ||
It all seems a bit much like hard work, doesn’t it. | It all seems a bit much like hard work, doesn’t it. Not helped by the terms being used differently in the {{ietama}} and {{efeta}}. | ||
Latest revision as of 10:59, 14 September 2023
Dear old ISDA’s crack drafting squad™ have even managed to make a dog’s breakfast of this, by introducing two terms for the same party, depending on its role in the Transaction, and the type of Transaction.
One may be either a Buyer or a Seller; in a Forward, the Buyer always receives and the Seller always delivers.
But for an Option, depending on whether it is a Call or a Put, a Buyer may be a Delivering Party or a Receiving Party.
It all seems a bit much like hard work, doesn’t it. Not helped by the terms being used differently in the IETA Master Agreement and EFET Allowances Appendix.