Template:M summ 2002 ISDA 4(d): Difference between revisions
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| These [[reps]] allow the other party to pay without [[Withholding tax|deduction]] for certain taxes. This [[covenant]] puts the onus on the payee (beneficiary) to ensure the other party (who is subject to the authority of the taxing authority in question) is not erroneously passing through moneys that it should withhold and for which it will be personally liable to account to the tax authority. It also gives the aggrieved payer a direct right of action to claim those amounts back off the forgetful payee.
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Revision as of 13:16, 9 January 2022