Template:Isda 14 summ: Difference between revisions
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[[Definitions - ISDA Provision|The]] basic reason for the differences between the {{1992ma}} and the {{2002ma}} is: | [[Definitions - ISDA Provision|The]] basic reason for the differences between the {{1992ma}} and the {{2002ma}} is: | ||
*The whole {{isda92prov|Loss}}/{{isda92prov|Market Quotation}} farrago (and all that {{isda92prov|First Method}} and {{isda92prov|Second Method}} nonsense) is unique to the ’92, replaced by {{ | *The whole {{isda92prov|Loss}}/{{isda92prov|Market Quotation}} farrago (and all that {{isda92prov|First Method}} and {{isda92prov|Second Method}} nonsense) is unique to the ’92, replaced by {{{{{1}}}|Close-out Amount}} in the ’02. That is also where {{isda92prov|Reference Market-maker}}s, {{isda92prov|Settlement Amount}}s and so on come from. | ||
*{{ | *{{{{{1}}}|Force Majeure Event}} under Section {{{{{1}}}|5(b)(ii)}} is new to the ’02. | ||
*{{ | *{{{{{1}}}|Illegality}} is built out to include the {{{{{1}}}|Waiting Period}} concept (also used in {{{{{1}}}|Force Majeure Event}} come to think of it). | ||
*{{ | *{{{{{1}}}|Set-off}} under Section {{{{{1}}}|6(f)}} is new to the ’02. | ||
{{{{{1}}} Section 14 TOC}} | |||
Revision as of 09:26, 6 January 2024
The basic reason for the differences between the 1992 ISDA and the 2002 ISDA is:
- The whole Loss/Market Quotation farrago (and all that First Method and Second Method nonsense) is unique to the ’92, replaced by {{{{{1}}}|Close-out Amount}} in the ’02. That is also where Reference Market-makers, Settlement Amounts and so on come from.
- {{{{{1}}}|Force Majeure Event}} under Section {{{{{1}}}|5(b)(ii)}} is new to the ’02.
- {{{{{1}}}|Illegality}} is built out to include the {{{{{1}}}|Waiting Period}} concept (also used in {{{{{1}}}|Force Majeure Event}} come to think of it).
- {{{{{1}}}|Set-off}} under Section {{{{{1}}}|6(f)}} is new to the ’02.
{{{{{1}}} Section 14 TOC}}