Template:Isda 13(b) summ: Difference between revisions

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===On the disapplication of {{{{{1}}}|13(b)(iii)}}===
=====On the disapplication of Section 13(b)(iii)=====
Where you wish to elect the exclusive jurisdiction of (say) English courts in your {{{{{1}}}|Schedule}}, you may wish to explicitly disapply the proviso to {{{{{1}}}|13(b)}} which provides that nothing in this clause precludes the bringing of {{{{{1}}}|Proceedings}} in another jurisdiction (in the flush language of the {{1992ma}} version; in {{{{{1}}}|13(b)(iii)}} of the {{2002ma}} version).
Where you wish to elect the exclusive jurisdiction of (say) English courts in your {{{{{1}}}|Schedule}}, you may wish to explicitly disapply the proviso to {{{{{1}}}|13(b)}} which provides that nothing in this clause precludes the bringing of {{{{{1}}}|Proceedings}} in another jurisdiction (in the flush language of the {{1992ma}} version; in {{{{{1}}}|13(b)(iii)}} of the {{2002ma}} version).


Strictly speaking you shouldn't need to do this: Section {{{{{1}}}|1(b)}} provides that the inconsistency created by the use of the expression “exclusive jurisdiction” in the Schedule will prevail over the text the Master Agreement. But that won’t stop officious [[Mediocre lawyer|attorneys]] the world over trying.
Strictly speaking, you shouldn’t need to do this: Section {{{{{1}}}|1(b)}} provides that the inconsistency created by the use of the expression “exclusive jurisdiction” in the Schedule will prevail over the text the Master Agreement. But that won’t stop officious [[Mediocre lawyer|attorneys]] the world over trying.


But, counselor, be warned: if you ''do'' try to explicitly override it — you know, for good measure and everything — and your counterparty pushes back, having deliberately taken the clarifying language out of a draft, you may be in a ;;worse'' position when interpreting the meaning of “exclusive jurisdiction", precisely because the counterparty refused to rule out the use of other jurisdictions. A cracking example of the [[anal paradox]] at work.  
But, counselor, be warned: if you ''do'' try to explicitly override it — you know, for good measure and everything — and your counterparty pushes back, having deliberately taken the clarifying language out of a draft, you may be in a ''worse'' position when interpreting the meaning of “[[exclusive jurisdiction]]”, precisely because the counterparty refused to rule out the use of other jurisdictions. A cracking example of the [[anal paradox]] at work.  


Don’t be too clever by half, in other words.
Don’t be too clever by half, in other words.
=====“Convention Court”=====
{{Brussels convention capsule}}
{{Lugano convention capsule}}