Template:Isda General Business Day summ isdaprov

“General Business Day” and “Local Business Day”

The defined term {{{{{1}}}|General Business Day}} appears in only one place in the ISDA Master Agreement: the definition of {{{{{1}}}|Local Business Day}}. It is this:

“General Business Day” means a day on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits).

Thereby, a short definition is used to prop up a longer one.

The 1992 ISDA doesn’t have the concept of a “General Business Day” at all.