Template:Csa Expenses summ: Difference between revisions
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The starting point here, being a function of the [[common law]] of [[contract]], not to mention common sense is that every merchant is liable for its own costs and expenses of performing a contract, so if there are costs involved in running a collateral operation, as a general matter, they are for your own account. Where this might change is as a result of a pledge: if I deliver you an asset, to hold as collateral for my obligations, then if there are any costs on you on transfering it to you — the classic is a [[stamp duty]] or similar transfer tax — and you transferring it back to me, these should be for my account, for I get no benefit from incurring that cost. | |||
These considerations do not pertain to [[title transfer]] arrangements. Once you have the asset, it is yours. | |||
This is a not entirely ironclad justification, by theway - expecially when you take into account the effects of [[rehypothecation]]. | |||
==={{capitalise|{{sicsa}}s}}=== | ==={{capitalise|{{sicsa}}s}}=== | ||
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> | 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> | ||
{{Csa Expenses summ {{{1}}}}} | {{Csa Expenses summ {{{1}}}}} | ||
Revision as of 11:19, 15 May 2024
The starting point here, being a function of the common law of contract, not to mention common sense is that every merchant is liable for its own costs and expenses of performing a contract, so if there are costs involved in running a collateral operation, as a general matter, they are for your own account. Where this might change is as a result of a pledge: if I deliver you an asset, to hold as collateral for my obligations, then if there are any costs on you on transfering it to you — the classic is a stamp duty or similar transfer tax — and you transferring it back to me, these should be for my account, for I get no benefit from incurring that cost.
These considerations do not pertain to title transfer arrangements. Once you have the asset, it is yours.
This is a not entirely ironclad justification, by theway - expecially when you take into account the effects of rehypothecation.
security interest CSAs
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.
{{Csa Expenses summ {{{1}}}}}