Template:M gen 2002 ISDA 12

Note the restriction on forms of notice for closing out: No email, no electronic messages. But note another dissonance: in the 1992 ISDA, close-out notification by fax was expressly forbidden; in the 2002, it is not: only electronic messaging systems and e-mail are verboten. Ironic, seeing how faxes have got on as a fashionable means of communication in the decades since they were sophisticated enough to be a plot McGuffin for a John Grisham novel.

Email vs electronic messaging system

The well-intended and, we think, presumed harmless — even modern — addition of email in the Template:2000ma, in addition to “electronic messaging system”, persuaded the Chancery Division of the High Court to conclude that “electronic messaging system” and “email” are mutually exclusive things, rather than a basic commentary on ISDA’s crack drafting squad™ inability to let things go — a conclusion which the JC finds hard to accept, as you will see if you read the Greenclose v National Westminster Bank plc case note.

A John Grisham McGuffin yesterday. well, in about 1986 actually.

CSA

Note that the 1995 CSA subjects its notice provisions to this provision (see Paragraph 9(c) and 11(g).