Counterparts and Confirmations - ISDA Provision: Difference between revisions
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===Section {{isdaprov|9(e)(ii)}} {{isdaprov|Confirmation}}s''' === | ===Section {{isdaprov|9(e)(ii)}} {{isdaprov|Confirmation}}s''' === | ||
If a swap trader agrees one thing, and the {{isdaprov|Confirmation}} the parties subsequently sign says another, which gives? A 15 second dealing-floor exchange on a crackly taped line, or the carefully-wrought ten page, counterpart-executed legal {{isdaprov|Confirmation}} that follows it? | If a swap trader agrees one thing, and the {{isdaprov|Confirmation}} the parties subsequently sign says another, which gives? A 15 second dealing-floor exchange on a crackly taped line, or the carefully-wrought ten page, counterpart-executed legal {{isdaprov|Confirmation}} that follows it? | ||
{{trade versus confirmation}} | |||
Note also the addition of [[e-mail]] as a means of communication to the 2002 version (email not really having been a “thing” in 1992). This caused all kinds of [[fear and loathing]] amongst the judiciary, when asked about it, as can be seen in the frightful case of {{casenote|Greenclose|National Westminster Bank plc}}.Oh dear, oh dear, oh dear. | Note also the addition of [[e-mail]] as a means of communication to the 2002 version (email not really having been a “thing” in 1992). This caused all kinds of [[fear and loathing]] amongst the judiciary, when asked about it, as can be seen in the frightful case of {{casenote|Greenclose|National Westminster Bank plc}}.Oh dear, oh dear, oh dear. |