Template:Csa expenses: Difference between revisions
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===English law CSAs=== | |||
Paragraph {{csaprov|8}} of the {{vmcsa}} is identical to the [[8 - CSA Provision|equivalent]] in the {{csa}}. Being a function of the [[common law]] of [[contract]], not to mention common sense — why would someone else be liable for your costs and expenses of performing a contract unless it specifically said they would be? — it falls into the goes without saying category. But {{icds}} said it anyway. | Paragraph {{csaprov|8}} of the {{vmcsa}} is identical to the [[8 - CSA Provision|equivalent]] in the {{csa}}. Being a function of the [[common law]] of [[contract]], not to mention common sense — why would someone else be liable for your costs and expenses of performing a contract unless it specifically said they would be? — it falls into the goes without saying category. But {{icds}} said it anyway. | ||
===NY law CSA=== | |||
Paragraph {{nyvmcsaprov|10(a)}} of the {{nyvmcsa}} is largely the same as Paragraph {{vmcsaprov|8}} of the English law versions — it carries on in {{nyvmcsaprov|10(b)}} and {{nyvmcsaprov|10(c)}} to rabbit on a bit about {{nyvmcsaprov|Posted Collateral}} — but, neglects to specifically call out [[stamp duty]]. How to deal with stamp duties is the subject of Paragraphs {{nyvmcsaprov|10(b)}} and {{nyvmcsaprov|10(c)}}, of which there is no equivalent in the English law document. <br> | |||
Latest revision as of 10:27, 15 January 2020
English law CSAs
Paragraph 8 of the 2016 VM CSA is identical to the equivalent in the 1995 CSA. Being a function of the common law of contract, not to mention common sense — why would someone else be liable for your costs and expenses of performing a contract unless it specifically said they would be? — it falls into the goes without saying category. But ISDA’s crack drafting squad™ said it anyway.
NY law CSA
Paragraph 10(a) of the 2016 NY Law VM CSA is largely the same as Paragraph 8 of the English law versions — it carries on in 10(b) and 10(c) to rabbit on a bit about Posted Collateral — but, neglects to specifically call out stamp duty. How to deal with stamp duties is the subject of Paragraphs 10(b) and 10(c), of which there is no equivalent in the English law document.