Template:Isda 14 summ: Difference between revisions

Revision as of 09:23, 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 Close-out Amount in the ’02. That is also where Reference Market-makers, Settlement Amounts and so on come from.
Force Majeure Event under Section 5(b)(ii) is new to the ’02.
Illegality is built out to include the Waiting Period concept (also used in Force Majeure Event come to think of it).
Set-off under Section 6(f) is new to the ’02.

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-[[Definitions - ISDA Provision|The]] basis reason for the delta between the {{1992ma}} and the {{2002ma}} is this:
+[[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 {{isdaprov|Close-out Amount}} in the ’02. That is also where {{isda92prov|Reference Market-maker}}s, {{isda92prov|Settlement Amount}}s and so on come from.
 *{{isdaprov|Force Majeure Event}} under Section {{isdaprov|5(b)(ii)}} is new to the ’02.
 *{{isdaprov|Illegality}} is built out to include the {{isdaprov|Waiting Period}} concept (also used in {{isdaprov|Force Majeure Event}} come to think of it).
 *{{isdaprov|Set-off}} under Section {{isdaprov|6(f)}} is new to the ’02.